Bridge Bank announced that it has issued an accounts receivable-based $4 million line of credit to Ride Health, a New York City-based healthcare technology and services company focused on patient transportation. The line of credit will be used to support working capital needs.
“Bridge Bank works with many innovative companies like Ride Health to deliver customized banking and financing solutions to support their growth,” said Roger Klarmann, senior vice president in Bridge Bank’s New York-based Technology Banking group. “We are pleased support Ride Health’s technology-enabled approach to transportation that ensures every patient can get where they need to go to access care.”
Bridge Bank prioritizes client relationships in its work with tech and innovation sector customers. Earlier this year, Bridge Bank provided Ride Health with a separate debt financing.
“Working with Roger and his team has been great,” said Imran Cronk, founder and chief executive officer of Ride Health. “We appreciate Bridge Bank’s highly responsive and tailored approach.”
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Ride Health was founded to modernize the non-emergency medical transportation industry’s analog approach to ride coordination, offering an end-to-end transportation solution that automates trip scheduling, ride communications and benefit management across a national network of ride-hailing services, taxi companies and non-emergency medical transportation providers. The company partners with health plans, healthcare providers and life sciences organizations to manage transportation benefits and enterprise programs focused on improving clinical outcomes for populations facing transportation barriers.
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