Venture First Advises Healthcare Asset Network on $3 Million Equity Financing

By Will Baumgardner

Healthcare Asset Network, a provider-to-provider platform for buying and selling surplus medical supplies and surgical equipment, announced they have closed a $3 million round of financing. The company will use the growth capital to expand its technology and sales teams and to accelerate its relationships with enterprise customers.

The round included notable healthcare and technology founders such as Vencor/Kindred Healthcare founder Bruce Lunsford, Genscape founder Sterling Lapinski, and iPay founder Mike Bowers. Prior investors who also participated in the round include Kentucky Science & Technology Corporation and Tamarind Hill. Healthcare Asset Network worked closely with Louisville-based Venture First to identify and secure the investors for this round of funding.

According to Healthcare Asset Network Founder and CEO Kyle Green, “Healthcare Asset Network fills a unique void in the multi-billion dollar healthcare secondary market, which today lacks transparency, credibility and efficiency, and remains highly fragmented. Our unique matching technology provides a one-stop shop to buy and sell high-quality products which have been vetted and curated for our customers, making it not just the easiest but the most trusted solution available.”

About Healthcare Asset Network

Healthcare Asset Network offers software that is professionalizing the healthcare secondary market and consolidating a disorganized, time-consuming customer experience into a single solution for buying and selling high-quality excess supplies and equipment. Its advanced, cloud-based technology simplifies critical buying and selling activities, significantly saving both time and money. Healthcare Asset Network has recently developed proprietary technology tailored specifically to large healthcare systems, with a particular focus on sustainability efforts. Current customers include healthcare systems (both large and small), ambulatory surgery centers, outpatient clinics, equipment refurbishing companies, distributors and humanitarian groups.

The company was established in 2013 by Green, who has extensive healthcare experience. He began his career as an Administrative Resident at University of Kentucky Healthcare and an Administrative Fellow at Johns Hopkins Medicine and later worked for Johns Hopkins International to open the first international standards hospital in Shanghai, China. He also served as VP of Operations at Kosair Children’s Hospital, then the Pediatric Service Line, at Norton Healthcare and was SVP of Clinical Operations, then Chief Strategy Officer at Phoenix Children’s Hospital.

About Venture First

Venture First is a boutique financial services group focused on empowering entrepreneurs. Our team has completed over 1,200 engagements, working closely with over 600 innovative companies and their investors in 60+ cities around the globe to provide them with the financial and strategic tools to be successful. Core focus areas include Equity & Derivative Valuation Services , Transaction Services and CFO Services.  We have strong relationships with leading private equity groups and have a pristine audit record with all “Big Four” accounting firms, as well as experienced regional audit groups.

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