n1 Health LLC announced the launch of its $1 million non-brokered mezzanine offering. This is the third private placement (and the second in a month) initiated by the company which raised an estimated $3 million since February 2012. Around $350,000 of the gross proceeds is earmarked for the payment of executives’ salaries.
n1 Health provides capital and business support for doctors to start their membership based private practice where doctors have a smaller pool of patients and provide improved care while sustaining profits. According to studies, membership model, also known as “concierge practices” is bound to grow.
n1 Health, headquartered in Richmond VA, was founded in June 2011. It is lead by Allan Kahane (Chairman and CEO), Tom Blue (President), Priya Kamani (COO), Ron Barden (CFO), John Poma (Corporate counsel & business development) and Brian Hamilton (Director of Practice Services).