{"id":51007,"date":"2022-11-17T18:02:21","date_gmt":"2022-11-17T17:02:21","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/uplyft-signs-10-million-venture-leasing-deal-with-kineo-finance\/"},"modified":"2022-11-17T18:02:21","modified_gmt":"2022-11-17T17:02:21","slug":"uplyft-signs-10-million-venture-leasing-deal-with-kineo-finance","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/uplyft-signs-10-million-venture-leasing-deal-with-kineo-finance\/","title":{"rendered":"UpLyft\u2122 Signs $10 Million Venture Leasing Deal with Kineo Finance"},"content":{"rendered":"
\n

\nFunds used to fulfill lease agreements for \u2018zero-lifting\u2019 patient transfer system\n<\/p>\n

SAN DIEGO–(BUSINESS WIRE)–#backpain<\/a>—UpLyft\u2122<\/a>, the medical technology company revolutionizing the healthcare industry with its UpLyft ST-120\u2122 patient transfer system, has closed a $10 million venture leasing facility with kineo Finance<\/a> (Basel, Switzerland). Financing from this deal will be directed towards UpLyft\u2019s leasing program for both consumers at home and healthcare facilities.\n<\/p>\n

<\/a><\/p>\n

\nDemand for UpLyft\u2019s independent and \u2018zero-lifting\u2019 assisted transfer systems has skyrocketed this year, with initial inventory rapidly selling out and subsequent sales leading to a wait list for the next batch of units. This past month, the company completed the manufacturing of all initial pre-sold UpLyft systems, which have now been successfully shipped to distribution partners or installed in pre-order customers\u2019 homes across 12 states nationwide.\n<\/p>\n

\n\u201cWe are ecstatic to partner with kineo Finance on this key transaction as we work to expand our manufacturing capabilities in 2023 and satisfy our burgeoning sales demand,\u201d said Craig Misrach, President & CEO of UpLyft. \u201cKineo\u2019s executives possess decades of medical device commercialization experience and have found a valuable niche in providing leasing capital to companies scaling their sales and distribution throughout the U.S. and internationally.\u201d\n<\/p>\n

\nThe venture leasing facility from kineo will assist UpLyft in the fulfillment of 2,000 leased units to consumers, healthcare facilities and distributors across the country. The company\u2019s leasing program is anticipated to be driven primarily by healthcare institutions, such as hospitals, nursing homes and complex rehabilitation clinics. Lease orders have already commenced for consumers at home, as geriatric and bariatric trends continue to drive demand for novel ‘aging in place\u2019 home medical technology products like UpLyft.\n<\/p>\n

\n\u201cWe believe UpLyft is a paradigm shifting patient transfer system that will benefit healthcare facilities, providers and patients across the U.S.,\u201d said Charles Sellman, President of kineo Finance. \u201cWe are excited to put this initial leasing program in place for UpLyft, and are looking forward to the prospect of expanding this program in the future as UpLyft scales its distribution and sales footprint around the world in the years ahead.\u201d\n<\/p>\n

\nIn addition to their deal with kineo, UpLyft held an initial closing of a $5 million Preferred Stock Round earlier this year in July 2022. Investors in the round included IHD Ventures, Fortech Investments, August Holdings, and members of U.S. Angels, CalTech Angels, Danube Angels, and the San Diego Angel Group. The company has additional Preferred Stock available for investment by accredited investors via UpLyft\u2019s investment portal on Redcrow<\/a>.\n<\/p>\n

\nAbout UpLyft<\/span><\/b>\n<\/p>\n

\nUpLyft\u2122 addresses the critical need for an innovative method to empower people with mobility limitations to safely and efficiently self-transfer from bed to wheelchair, and vice versa. For consumers at home, UpLyft restores independence to people with mobility challenges, improving their quality of life. In institutional settings, UpLyft protects healthcare workers from encountering patient lifting injuries, avoiding costly workers compensation claims. For additional information on UpLyft, please visit the company\u2019s website at www.myuplyft.com<\/a>.\n<\/p>\n

\nAbout kineo Finance<\/span><\/b>\n<\/p>\n

\nKineo Finance offers venture leasing, as well as other debt structures to fulfill young companies\u2019 working capital needs while limiting dilution and allocating capital efficiently. Kineo\u2019s ultimate goal is to help companies accelerate their growth and to drive adoption of their products with the help of tailor-made asset financing and working capital facilities that are complimentary to equity and compatible with almost all capital structures. For more information about kineo Finance, please visit https:\/\/kineofinance.com\/<\/a>.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nBria d\u2019Amours
\n
Director of Marketing & Business Development
\n
bria@uplyfthealth.com<\/a>
(619)-628-6161\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Funds used to fulfill lease agreements for \u2018zero-lifting\u2019 patient transfer system SAN DIEGO–(BUSINESS WIRE)–#backpain—UpLyft\u2122, the medical technology company revolutionizing the healthcare industry with its UpLyft ST-120\u2122 patient transfer system, has closed a $10 million venture leasing facility with kineo Finance (Basel, Switzerland). Financing from this deal will be directed towards UpLyft\u2019s leasing program for both … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-51007","6":"format-standard","7":"category-industry"},"yoast_head":"\nUpLyft\u2122 Signs $10 Million Venture Leasing Deal with Kineo Finance - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/uplyft-signs-10-million-venture-leasing-deal-with-kineo-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UpLyft\u2122 Signs $10 Million Venture Leasing Deal with Kineo Finance - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Funds used to fulfill lease agreements for \u2018zero-lifting\u2019 patient transfer system SAN DIEGO–(BUSINESS WIRE)–#backpain—UpLyft\u2122, the medical technology company revolutionizing the healthcare industry with its UpLyft ST-120\u2122 patient transfer system, has closed a $10 million venture leasing facility with kineo Finance (Basel, Switzerland). 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