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Tuesday, December 26, 2017 11:44:22 AM
"HEALTH CARE DEC 11, 2017 SHARE
CarePayment owners invest another $7.5M
Patient financial engagement company moved HQ here nearly a year ago
AUTHORS Geert De Lombaerde
The owners of patient financing company CarePayment have invested $7.5 million to sustain momentum that has led the local venture to grow its account base by half just this year.
Cedar Springs Capital and Crestline Investors took over CarePayment about a year ago, assuming the majority stake previously owned by Aequitas Capital Management, a Portland-based financial conglomerate that ran into serious trouble with regulators. Along with that investment, CarePayment CEO Craig Hodges and his team moved the company’s headquarters to Nashville to be closer to many of the customers for its products, which help patients manage health care expenses and providers collect more of their outstanding bills.
Nine months after announcing the HQ move, Hodges and his team are on a roll. They have grown their number of patient accounts to 3.3 million from 2.2 million about a year ago and made inroads with more for-profit hospitals and other providers, building on a client base that had been more focused on nonprofit and small or mid-sized institutions.
To keep things rolling, Cedar Springs and Crestline are putting more of their money to work in CarePayment, which is seeing more competitors emerge as greater attention is paid to the financial stresses on both patients and providers.”
https://www.nashvillepost.com/business/health-care/article/20985353/carepayment-owners-invest-another-75m
"HEALTH CARE AUG 07, 2017
CarePayment secures debt deal
AUTHORS Geert De Lombaerde
CarePayment Technologies, which works with providers and patients when the latter can’t immediately cover out-of-pocket costs, has landed a $90 million credit package from a firm headquartered in Florida.
Terms of Comvest Partners’ senior secured facility deal with Nashville-based CarePayment aren’t being disclosed. The transaction comes a few months after CarePayment CEO Craig Hodges moved the company’s headquarters here from Oregon, where it had been under the auspices of a financial conglomerate that ran into major trouble with the Securities and Exchange Commission.
"CarePayment has experienced very strong growth in the first half of 2017," Hodges said in a statement. "To stay well ahead of the demand, we were looking for a strategic partner for a new credit facility […] The help provided by the Comvest financing will allow CarePayment to satisfy our mission to work with healthcare providers to offer affordable, consumer-friendly financing solutions to all patients who struggle with their medical expenses."
Comvest has invested $2.7 billion in more than 150 companies since its launch in 2000. Worth noting: Managing Director Tom Goila joined the firm earlier this year from CarePayment."
According to the Nashville Post Carepayment has over 100 employees, has overseen 2.2 million accounts and has handled more than $1 billion in medical bills since 2004"
https://www.nashvillepost.com/business/health-care/article/20854765/patient-financial-engagement-venture-moves-hq-here
Form D filed 3/22/17 for $41.5 million
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11948773
Form D filed 12 12/7/17 for $7.5 million
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12420110
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