HPS/PayMedix, the leading healthcare financing and payments solutions provider, announced it has closed $33 million in equity and debt financing to accelerate the growth of its groundbreaking PayMedix healthcare financing and payments solution. HLM Investment Partners, a leading healthcare investment firm, led a $16 million growth equity investment, joined by Escalate Capital Partners and RVM Enterprises, and existing investor SV Health Investors.
Financial Technology Insights: Sophtron Turns ChatGPT into a Personalized Financial Advisor
The funding comes at a time of notable growth for the company, as demand increases for its innovative healthcare payments platform to improve affordable access to healthcare nationwide.
“PayMedix is a highly effective platform that streamlines the payment experience for payors, providers, and members,” said Michael Ludwig, Partner at HLM Investment Partners, who will join the HPS/PayMedix board of directors as part of the transaction. “In a time where it is critical to reduce provider abrasion and improve member affordability, we are excited to partner with Tom and the HPS/PayMedix team to accelerate growth.”
The new term debt facility of $17 million was provided by Escalate Capital Partners, a leading private credit and growth equity investment firm that services growing companies within the technology, software, services, and healthcare sectors.
Financial Technology Insights: Sirvoy Launches Free Booking Platform for Solo Hosts
“As employers, providers, and payors look for alternative financing and payment solutions to deal with the affordability crisis in healthcare, demand for PayMedix has skyrocketed in the last year,” said Tom Policelli, HPS/PayMedix CEO. “With years of 100% provider retention, over 93% employer retention, and consumer satisfaction ratings over 91%, we have proven that we have created a solution that provides value across the board. This new investment will directly support expanding our platform so more patients can get the care they need and providers can serve their communities more effectively.”
Financial Technology Insights: Finys Partners with ePayPolicy to Enable Digital Insurance Payments
Tom Flynn, Managing Partner at SV Health Investors, commented, “We are pleased to partner with knowledgeable healthcare investors to capitalize the company for a period of rapid growth.”
To share your insights with the FinTech Newsroom, please write to us at info@intentamplify.com
Source : prnewswire