Grenville Strategic Royalty Corp. (TSX-V: GRC) has provided US $1 million in growth capital to Stability Healthcare Inc. pursuant to a royalty purchase agreement. Similar to Grenville’s other royalty agreements, the financial terms include an indefinite term, monthly payments, and a buyout provision.
Los Angeles, California based Stability uses an online platform to match the supply of travel nurses with healthcare facilities that are in need of temporary nurses, significantly reducing placement times. Stability Healthcare was founded in 2009, with the mission of becoming the best travel nursing agency in California.
Toronto based Grenville Strategic Royalty is led by Grenville’s CIO and acting CEO Robb McLarty who is based in California.
photo credit: Stability
Grenville Strategic Royalty Announces $1,000,000 Royalty Agreement with Stability Healthcare Inc.
TORONTO, Ontario, April 26, 2018 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville” or the “Company”) today announced that it has signed a royalty purchase agreement with Stability Healthcare Inc. (“Stability”) to provide US $1,000,000 in growth capital. Similar to Grenville’s other royalty agreements, the financial terms include an indefinite term, monthly payments, and a buyout provision.
Based in Los Angeles, California, Stability uses an online platform to match the supply of travel nurses with healthcare facilities that are in need of temporary nurses, significantly reducing placement times. The company has changed the way that the industry has historically operated by creating transparency in selecting travel assignments by releasing as much information upfront to nurses including compensation, travel expenses and placement facility details. For the past three years, Stability has been ranked on the Inc. 500 fastest growing private companies list.
“We are excited to partner with Stability Healthcare. The company’s online and mobile platform is aligned with two major trends in the healthcare industry: digital transformation and the generational shift of the workforce from Boomers to Millennials” said Grenville’s Acting CEO Robb McLarty. “Our revenue-linked growth capital will help to fuel Stability’s continued expansion, while mitigating the dilution of its existing shareholders.”
About Stability Healthcare Inc.
Stability is a technology driven travel nurse placement agency. Through its wholly-owned digital marketing platform, Stability has developed software and a business process to deliver the first “Create Your Pay Package” portal for travel nurses. The online portal specifically targets the largest audience of travel nurses directly where they spend 90% of their time (mobile). The process puts the feeling of trust, power and control back into the travel nurse’s hands during the job selection and pay customization process.
Based in Toronto, Grenville Strategic Royalty Corp. makes growth-oriented investments in established businesses with revenues of up to $50 million. Grenville generates revenues from royalty payments, buyouts from contracts and equity returns. The royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Grenville Strategic Royalty Corp.:
Chief Financial Officer
Tel: (416) 777-0383