Bailey Southwell & Co., a Nashville-based healthcare and tech-enabled services investment bank, is pleased to announce it served as exclusive financial and strategic advisor to Tellus, LLC in connection with the company’s Series B capital round.
Tellus is a leading provider of Electronic Visit Verification (“EVV”) technology solutions to the home health and long-term care markets. The company plans to use the proceeds to support its continued growth as a premier national EVV solutions provider. Carroll Capital LLC (“Carroll Capital”) led the Series B capital round with participation from existing and new investors. Debt capital was provided by the Canadian Imperial Bank of Commerce (“CIBC”).
In its role as exclusive financial and strategic advisor, BSC leveraged its deep experience in the home health and healthcare technology sectors to identify the optimal partners for Tellus at this pivotal stage in the company’s growth.
Tellus offers a comprehensive, cloud-based solution that streamlines the verification of care delivery tasks and processes claims data at the point of care. The company’s flexible platform makes integration with third-party software tools that meet Tellus’ standards seamless. Tellus’ clients include state Medicaid departments, managed care organizations, and healthcare provider agencies. The company is a founding member of the National Electronic Visit Verification Association, which serves as the industry resource for EVV, providing support and information to states, managed care organizations, and healthcare providers.
“Given the unique circumstances around our immediate business needs and our rapid growth trajectory, it was essential for our advisor to first help us identify the strategic alternatives that were in front of us. With the guidance of Bailey Southwell, we decided to move forward with a smart combination of debt and equity financing. They quickly identified the right partners who would work side-by-side with us to efficiently implement our growth plan,” commented Bradley Levine, CEO and President of Tellus. “Their guidance led us to Carroll Capital and CIBC, our partners who will enable us to deliver our EVV solution to clients across the country.”
