Corporate Overview

Healthcare Credit Intelligence

FinMD partners with banks to build and scale a disciplined healthcare vertical
using industry data and proprietary analytics.

ConfidentialQ2 2026
02 / Market Need

Why the market needs to evolve

Healthcare lending is constrained by systemic complexity

Physicians need capital to acquire, build and expand practices, but generic lending models often miss the specialty, practice and market signals that determine healthcare credit risk.

Risk lives across three layers
PhysicianIncome trajectory, specialty, career stage and debt capacity.
PracticePayer mix, billing quality, referral dynamics and ownership model.
MarketLocal capacity, competition, reimbursement dynamics and regulatory shifts.
The barriers to physician lending
StructuralTraditional borrower models flatten physician income trajectories, specialty economics, career stage and practice ownership.
OperationalPayer mix, billing quality, referral dynamics, practice performance and local market capacity often drive risk, but rarely appear clearly in conventional underwriting.
RegulatoryTo scale healthcare lending safely, institutions need a framework that is auditable, governed and aligned with internal credit policy.
Market scale and lending gap
1.1M+U.S. physicians mapped into the borrower universe
35K+new physician entrants annually, supporting recurring borrowing demand
$400Bestimated financeable healthcare credit opportunity
8%estimated bank lending capture of the financeable opportunity
The Banking GapFragmented delivery requires better market mapping and borrower differentiation.Generic underwriting misses specialty economics and practice-level risk.Regulated growth needs auditable credit workflows inside bank governance.
Market need | Physician lending gap02
03 / FinMD Response

FinMD response

FinMD turns healthcare complexity into credit decision support

Healthcare credit requires industry and market data to make physician risk visible, comparable and bankable at scale. FinMD integrates credit analytics into workflows across market mapping, specialty-specific risk assessment and industry-related portfolio monitoring.

InputsBorrower, practice, market and portfolio data
→
SCOPETM + PRISMTM + RADARTMHealthcare-native sourcing, underwriting, and portfolio intelligence; specialty benchmarking; proprietary scoring
→
OutputLenders equipped with industry context for more informed decisioning throughout the credit lifecycle
Delivered through banks
LendMD

FinMD's Credit Infrastructure for Banks

  • Bank-originated
  • Bank-owned customer relationship
  • Credit authority and balance sheet remain with the bank
Delivered through direct credit

FinMD's proprietary direct lending arm

  • Non-bank originated
  • Privately funded business loans
  • Specialty-adjusted underwriting with active portfolio monitoring

FinMD is not a lead-generation platform. It is a healthcare credit workflow built for bank governance on four pillars.

Institutional data analyticsHealthcare-driven credit discipline beyond the reach of unspecialized fintechs and operators.
Dual channelThe same credit infrastructure we offer bank partners, powers our direct lending - putting our own capital behind our conviction.
Three-layer risk viewPhysician, practice and market signals are priced in, including specialty economics, payer mix and local market dynamics.
Credit, not leadsDecision-ready underwriting, credit memo support and active portfolio monitoring, not a list of names for the bank to qualify.
FinMD response | Credit workflow03
04 / LendMD for Banks

LendMD for banks

Healthcare credit workflow across the bank's lending lifecycle

LendMD helps banks build or scale a healthcare lending vertical while preserving credit authority, customer ownership, compliance control and balance-sheet governance.

01SourceMarket mapping, physician prioritization, and industry-informed physician profiles ready for banker outreach.SCOPETMPipeline precision
02EvaluateSpecialty-adjusted scoring, peer benchmarks and decision-ready credit analysis.PRISMTMUnderwriting depth
03ApproveCredit structure, pricing logic and credit memo support inside the bank's approval process.BankBank retains credit authority
04MonitorPortfolio migration, concentration, regulatory shifts, pricing drift and early warning indicators.RADARTMPortfolio visibility
05Retain & GrowRenewal, cross-sell and relationship growth signals supported by portfolio monitoring.SCOPETM + RADARTMBank owns the relationship
Pipeline precisionbetter targeting in a fragmented physician market
Speed to marketlaunch or scale without rebuilding core systems
Governance firstcontrols remain inside the institution
Portfolio visibilitymonitoring extends beyond origination
Bank control | FinMD support04
05 / Use Cases

Use cases

Physician and practice lending across the full credit lifecycle

FinMD supports physician lending originated through bank channels and direct/private credit, using a single underwriting framework at the borrower, business and market level.

LendMD4FiMD
Acquisition financeCapital for acquiring or expanding physician practices.
LendMD4FiMD
Partner buy-in / buyoutFinancing partner equity contributions and partner buyouts.
LendMD4FiMD
Start-up practice financeStart-up term loans for new practice openings, including build-out and initial working capital.
LendMD4FiMD
Equipment financeEquipment loans for medical, imaging and practice IT.
LendMD4FiMD
Working capitalRevolving lines of credit for payroll, A/R timing and growth investment.
LendMD4FiMD
Debt refinance and recapitalizationRefinancing existing term debt and restructuring credit facilities.
LendMD4FiMD
Owner-occupied CRECommercial real estate loans for medical office acquisition, build-out and expansion.
LendMD4FiMD
Transition financeTerm loans funding retiring-partner buyouts and ownership continuity.
LendMD
Resident and fellow loansPersonal loans for residents and fellows, underwritten on training contracts.
LendMD
Physician mortgageResidential mortgages with low/no down payment, no PMI and physician income underwriting.
LendMD
Personal loans and lines of creditUnsecured term loans and revolving lines of credit underwritten on physician income.
LendMD
Investor real estate financingLoans for non-owner-occupied residential investment properties.

Lifecycle coverage: one underwriting framework supports physician borrowers from origination through growth, transition, and ongoing practice management.

Use cases | Physician credit lifecycle05
06 / Data

Data

Analytics discipline applied to physician credit.

FinMD is built on SPHERE's unparalleled analytics platform, bringing its proven insights to healthcare credit. As SPHERE's specialized healthcare credit subsidiary, FinMD connects the strength of the SPHERE platform with the needs of healthcare borrowers and lenders.

SPHERE analytics platform

A healthcare investment platform that turns sector research, operating context and system data into repeatable decision tools.

Evidence-basedInvestment decisions grounded in healthcare demand, access, outcomes and system data.
Expert-ledPhysician, public-health and operating perspectives embedded in underwriting logic.
Integrated + scalableCapabilities designed to scale across assets, operators, geographies and capital solutions.
$1.5BAUM across U.S. + Europe
5 officesMiami, Paris, Milan, Madrid and London
Investment FundsSPHERE's investment vehicles in partnership with the institutions below:
InvestcorpFosun-PrudentialNuveenLesteWalton Street

Institutional investment groups shown among others.

Analytics platform in motionFinMD's data platform shows how research, data and tools translate complex healthcare signals into repeatable decision support.
Data | Credit discipline06
07 / Team

Leadership

Leadership built across healthcare lending, credit, data
and institutional asset management

FinMD brings physician-lending experience, healthcare finance expertise, credit discipline and data platform capability into one delivery model.

Moses LuevanoCo-Founder, Managing PartnerFounder of BankMD; built physician-lending and specialty banking programs.LinkedIn
David Egozi ChoukrounCo-Founder, Managing PartnerFinMD and SPHERE platform development; healthcare finance, analytics and execution.LinkedIn
Haoting HuangData AnalyticsHealthcare data architecture, analytics workflows and decision-support systems.LinkedIn
Lewis McClureDigital InfrastructureDigital infrastructure, workflow tooling and fintech platform execution.LinkedIn
Chris McCorkleCredit RiskSpecialty underwriting standards, credit governance and portfolio oversight.LinkedIn
Maricris DazaDirector of FinanceCorporate finance, bookkeeping and financial reporting across platform operations.LinkedIn
Randy HumphreysFund ManagementFund operations, capital deployment, controls and investor reporting discipline.LinkedIn
Didier ChoukrounChairmanFounder of SPHERE Investments; healthcare platform building and institutional relationships.LinkedIn
Team | Data | Credit | Technology07

Contact

Physician Credit, Built for Banks

David Egozi Choukroun
Co-Founder, Managing Partner
dec@finmd.com
305.746.9290 Moses Luevano
Co-Founder, Managing Partner
ml@finmd.com
512.663.7743 Offices
Miami, Florida
San Antonio, Texas
finmd.com
ConfidentialQ2 2026