Health Advocates Network, a national provider of healthcare workforce solutions, announced that it has closed on $15.6 million in growth capital in recent equity and debt raises.
Founded in 2020 and based in Boca Raton, Health Advocates Network proides healthcare staffing and services across the United States to hospitals, clinics, and other healthcare facilities, supporting the company’s mission to provide quality care and optimal patient outcomves. The company has 26 employees in its Boca HQ, and in total employs 121 across the country.
“These successful capital raises represent an important milestone for Health Advcates Network,” said Chairman and CEO Kevin Little, in a statement. “With this new capital, we are well-positioned to advance our growth strategy and further strengthen our ability to serve our clients, their patients, and our talented workforce nationwide.”
The company said the funding will be used primarily to fuel organic growth initiatives, expand service capabilities, geographic reach, and support potential strategic acquisitions. About half of the total funding was reported to be debt financing. Health Advocates Network did not disclose the investors, but the company reported the rounds to be oversubscribed and said members of their management team co-invested in the equity round. JP Morgan has been a backer of the company in the past.
“With this capital, augmented by our senior bank credit facility, we are well-positioned to pursue acquisitions that align with our strategy, strengthen our market position, and create long-term value for our stakeholders,” said Eddie Albert, director of Mergers & Acquisitions.
Indeed, the company went on an acquisition spree in the fourth quarter of 2024, when it acquired Boca-based Medical Temps, along with Staff America, DiagnosTemps and WorkSquare. So far, the Health Advocates Network has made eight acquisitions. Health Advocates Network was recognized as #300 on the 2024 Inc. 5000 fastest-growing private companies in America and 54th on the Inc 5000 Southeastern US ranking for 2025.
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