"Fast-growing patient financing company CarePayment has picked up some more fuel from the bank holding company that acquired Tennessee Commerce Bank six years ago.
Republic Bank & Trust, which is based in Louisville, has committed to fund $35 million in CarePayment accounts — basically extending a line of credit to the Nashville-based company, which advances money to providers and then collects from patients via no-interest payment plans."
“We are very grateful for the support of Republic Bank during this critical period of growth for our company,” said CarePayment CEO Craig Hodges. “Their support allows us to continue to work with healthcare providers to offer their patients a compliantly structured, patient-friendly way to manage their medical expenses without fear of bankruptcy.”
CarePayment has in the past year grown its number of patient accounts to 3.3 million from 2.2 million while expanding its provider partner base."
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