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Panacea Financial Announces Partnership with UptimeHealth

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Panacea will serve as a preferred equipment financing option for UptimeHealth’s healthcare clients, as well as offer discounted pricing on UptimeHealth’s unique services to Panacea’s rapidly growing Practice Solutions customer base.    

Little Rock, Arkansas

Panacea Financial (Panacea), a division of Primis that provides financial services for doctors through all stages of their training and practice, has partnered with the UptimeHealth, a software solutions company that develops innovative products to simplify compliance practices and medical equipment management for healthcare organizations across the nation.

Tyler Stafford, CFA, CEO and Co-Founder of Panacea said, “We have built an expedited equipment financing option that will offer healthcare practices across the country unparalleled financing speed. We’re excited to partner with UptimeHealth to provide this financing option to their rapidly growing network of healthcare clients. Additionally, we believe UptimeHealth’s software will provide a superior, yet simplified service to our Practice Solutions clients.”

Panacea is a financial services company created for doctors, by doctors that provides tailored product offerings and service delivery designed specifically for physicians, dentists, and veterinarians throughout their career: from school, through training, and into practice. Panacea’s products cover the full suite of banking needs for this unique population, including PRN personal loans, student loan refinancing, and practice loans.

UptimeHealth CEO and Co-Founder Jinesh Patel said, “Panacea Financial is creating groundbreaking products and services for the financial services industry, making it even easier for healthcare providers to secure the finances needed to support growth. UptimeHealth is incredibly excited to partner with Panacea and continue to explore clever ways to assist the ecosystem. Imagine knowing when you need a new device and immediately securing the funds to procure it. That’s the future we are looking at together!”

About Panacea Financial

Panacea Financial, a division of Primis (NASDAQ: FRST), is a nationwide financial services company offering products in all 50 states as well as Washington, D.C. and Puerto Rico. Panacea offers a full suite of banking solutions specifically built for doctors, by doctors. Follow Panacea Financial on Instagram, Facebook, Twitter, and LinkedIn.

About UptimeHealth

UptimeHealth, headquartered in Boston, is a fast-growing software company that empowers providers to make patients’ lives better. The company focuses on providing healthcare administrators and operators with simple-to-use software to manage compliance tasks, improve access to actionable data to increase operational efficiencies, and tap into the largest network of qualified biomed technicians to support their medical devices. UptimeHealth products were developed to support the movement of healthcare to in-home and outpatient settings. Learn more at uptimehealth.com.

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Here’s to better financial solutions for physicians, dentists and veterinarians.

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Panacea Financial Holdings partners with Primis Bank, Member FDIC, to deliver banking services through its Panacea Financial Division.

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Fine Print

1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.  To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Not all applicants qualify for the lowest rate or maximum loan amount; subject to credit approval.  Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 660 to qualify for a personal loan.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

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