Panacea Financial Significantly Expands its Practice Solutions Division

LITTLE ROCK, Ark., Nov. 16, 2021 /PRNewswire/ — Panacea Financial (Panacea), a division of Primis Financial Corp. focused on providing financial services for doctors at all stages of their career, announces a significant expansion of its Practice Solutions (“PPS”) division with the hiring of several industry veterans. 

Tyler Stafford, CFA, CEO and Co-Founder of Panacea stated, “We’re building the strongest end-to-end Practice Finance vertical in the industry. The talent we’re recruiting to Panacea will offer our commercial healthcare clients unparalleled service and advice, along with the most expedited approval process in the market. I couldn’t be more thrilled about the talent we’re bringing to Panacea and the future of our team.”   

Rich Fortino joins Panacea as its Executive Healthcare Credit Officer and will provide oversight of all risk-taking activities including approving credit, ensuring conformity with company/regulatory policies and procedures, monitoring/reviewing group loan underwriting and managing portfolio performance and risk limits. Rich joins Panacea from TD Bank where he served as SVP / Market Commercial Credit Manager since 2014 and founded the credit division of its Healthcare Practice Finance group.  Previously, Rich was the SVP / National Credit Director for Healthcare Practice Finance at Citibank and co-founder of Citibank’s Healthcare Practice Finance business vertical in 2012. Prior to Citibank, Rich worked at PNC Bank as the Senior Credit Officer within its Healthcare Medical and Dental division from 2010-2012.  Prior to PNC Bank, Rich was VP, Portfolio-Account Manager within the Corporate Healthcare Division at Commerce Bank from 2004-2010 and VP, Operations Group Manager within Wachovia Bank’s International Trade Finance Division.

Starlene Reeves joins Panacea as its Healthcare Credit Manager and will oversee the credit underwriting and portfolio management processes. Starlene joins Panacea from TD Bank where she served as a VP / Commercial Credit Manager within its Healthcare Practice Solutions Group since 2014 and was instrumental in the growth of this division. Prior to TD Bank, Starlene was a Credit Underwriter at PNC Bank, where she worked since 2005. 

Rob Borcherding joins Panacea as a Regional Healthcare Manager. Based in Minneapolis, MN, Rob will focus on the upper Midwest regions, supporting Panacea with regional and nationwide lending consulting to any doctor or healthcare student looking to build, grow, or expand their practice.  Rob spent the last 20+ years with Wells Fargo, where he held various management positions in consumer finance, retail banking, merchant card services and healthcare lending. 

Jon Voeller joins Panacea as a Regional Healthcare Manager and will be based in Denver, CO.  Jon brings over 10 years of medical, dental, and veterinary banking experience to Panacea including Bank of America Practice Solutions, Live Oak Bank, First Bank and Celtic Bank. Jon will primarily focus on the Colorado, Arizona, and Southern California markets. 

Sandy Vargas joins Panacea as a Healthcare Consultant and will collaborate with customers, sales and credit to make recommendations and advise on new lending requests.  Sandy brings 19 years of experience in Healthcare lending, from sales management to underwriting.  Sandy joins Panacea from Wells Fargo where she most recently served as a VP/Healthcare Underwriter and held a variety of positions within the Healthcare Industries Group, formerly Practice Finance & Matsco.

Shannon Lynch joins Panacea as a dedicated Healthcare Commercial Loan Closer. Shannon joins Panacea from TD Bank where she served as a Commercial Loan Specialist since 2016, providing services to the Healthcare Practice Solutions Group and various commercial departments.  Shannon served in the United States Navy, retiring in 2016 after 27 years of service.

About Panacea Financial

Panacea Financial, a division of Primis Financial Corp. (NASDAQ: FRST), is a nationwide financial services company offering products in all 50 states as well as Washington, D.C. and Puerto Rico. Panacea offers a full suite of banking solutions specifically built for doctors, by doctors.  Panacea provides tailored product offerings and service delivery designed specifically for doctors throughout their career. Through the Panacea Financial Foundation, their non-profit arm, they have dedicated funding to expand the ethnic and racial diversity of the medical field.  Panacea’s products cover the full suite of banking needs for this unique population, including checking and savings accounts, PRN personal loans, student debt refinancing, and practice loans.

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SOURCE Panacea Financial

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