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Wellington Financial Provides $10 Million Credit Facility in Support of the Merger of TUC® and CareWorx
Wellington Financial Provides $10 Million Credit Facility in Support of the Merger of TUC&...
About this update from Clairvest Group Inc.
[{"type":"text","content":"\n\n\n\nWellington Financial Provides $10 Million Credit Facility in Support of the Merger of TUC® and CareWorx\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nWellington Financial Provides $10 Million Credit Facility in Support of the Merger of TUC® and CareWorx\nCanada NewsWire\nTORONTO and OTTAWA, Feb. 8, 2016\n\n\n\nTORONTO and OTTAWA, Feb. 8, 2016 /CNW/ -  Wellington Financial LP, a privately-held specialty finance firm, today announced a $10 million credit facility for TUC Managed IT Solutions (to be renamed CareWorx Inc.).  The funds will help TUC, a market-leader in managed IT and cloud services, acquire CareWorx Inc., a North American-leader in technology solutions serving senior care facilities.\n\nTUC provides IT service organizations including small and medium-sized enterprises, technology vendors and service providers with a comprehensive suite of managed IT and cloud services for end-users, supported 24x7 through our North American-based service desk.  The merger represents the next level of managed services providing the complete technology stack for senior care – devices, applications, service and support.\n\nCareWorx is a provider of advanced technology hardware, cloud products and related services to senior care facilities leveraging a strategic partnership with PointClickCare® – the market-leader in Electronic Health Records (EHR) software for senior care. CareWorx provides customers with focused expertise, wireless networking and out-of-the-box point-of-care and mobile technology designed specifically for use in senior care. \n\nThe combined company will eventually adopt the CareWorx brand and will establish Managed Services and Senior Care divisions that will continue to support all existing TUC and CareWorx customers. The Senior Care division will aim to vastly improve technology and IT support options for senior care facilities. The Managed Services division will continue to offer managed IT and cloud services with a specific focus on expansion in the midmarket and healthcare through a channel-f...