SANTA MONICA, CA, March 21, 2017 – Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), announced that its Healthcare Finance Group acted as agent and sole lender for a $60 million senior secured credit facility for Sharecare Inc., an award-winning digital health and wellness platform founded by digital health pioneer Jeff Arnold and Dr. Mehmet Oz.
“Working with the Wells Fargo Capital Finance team has been an absolute pleasure. The team’s experience and knowledge of the healthcare industry was evident and allowed us to close the transaction quickly and efficiently,” said Justin Ferrero, president of Sharecare. “The financing solution enables us to continue on our aggressive growth trajectory.”
Sharecare is the digital health company that helps people manage all their health in one place. The Sharecare platform provides each person – no matter where they are in their health journey – with a comprehensive and personalized health profile, where they can dynamically and easily connect to the information, evidence-based programs and health professionals they need to live their healthiest, happiest and most productive life. With award-winning and innovative frictionless technologies, scientifically validated clinical protocols and best-in-class coaching tools, Sharecare helps providers, employers and health plans effectively scale outcomes-based health and wellness solutions across their entire populations.
“Sharecare is an innovative company led by a best-in-class management team, with a proven ability to drive patient engagement resulting in improved outcomes,” said Kevin Harbour, National Healthcare Sales Manager and Managing Director at Wells Fargo Capital Finance. “We are very pleased to have been able to complete such an important financing that will enable Sharecare the financial flexibility to continue their growth objectives.”
About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending services, senior secured lending services, accounts receivable and purchase order finance services, and channel finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and internationally. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting and others. For more information, visit wellsfargocapitalfinance.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.