Bank of America Merrill Lynch has agreed to provide a $60 million credit facility to CarePayment, a portfolio company of Aequitas Capital. Based in Lake Oswego, Oregon, CarePayment is a healthcare finance firm that helps people manage their out-of-pocket medical expenses.
Portland, Ore., May 13, 2014–Aequitas Capital, an alternative asset management company specializing in private credit and private equity strategies, today announced that it has reached an agreement with Bank of America Merrill Lynch for a three-year credit facility of up to $60 million to support Aequitas’ funding commitment to the CarePayment® healthcare finance program. CarePayment is one of several Aequitas portfolio companies whose operation benefits from the Aequitas finance and operating platform. CarePayment partners with healthcare providers to provide patients access to 0.0% APR financing for up to 72 months to pay for out-of-pocket medical expenses.
“Aequitas is extremely pleased about its new relationship with Bank of America Merrill Lynch and looks forward to more collaboration in the years ahead,” said Aequitas CFO Olaf Janke. “This credit facility is another significant milestone in what has been a very successful year for Aequitas, with close to $120 million in senior debt raised from mainly commercial banks adding to a diverse capital base that also includes debt investments from high net worth individuals and family offices and fund investments from accredited investors and endowments. Through its industry-leading Bank of America Business Capital group, Bank of America Merrill Lynch has provided Aequitas with its largest single source of debt capital in the firm’s history.”
“Aequitas Capital has developed an innovative and sustainable finance structure to support the CarePayment program”, said Roger Hinshaw, Bank of America Merrill Lynch President for Oregon and Southwest Washington. “With funding from Aequitas, the CarePayment program is able to deliver value to every participant in the purchase cycle, benefiting healthcare providers and patients. We’re proud to support the work Aequitas and CarePayment are doing to help make healthcare more affordable and accessible.”
About Aequitas Capital
Founded in 1993, Aequitas Capital is an alternative investment management company dedicated to innovation, discipline and excellence. With proven expertise in finance, management and technology – Aequitas sources, structures and implements Private Credit and Private Equity solutions, benefiting the individuals and institutions that trust us as a valuable investment partner.
About CarePayment Technologies, Inc.
Headquartered in Lake Oswego, Oregon, CarePayment is a healthcare finance company that helps people manage their out-of-pocket medical expenses. By partnering with healthcare providers to make affordable financial options available, CarePayment helps patients get the care they need, when they need it while protecting the financial health of provider organizations so they can continue to offer valuable care to the community. The CarePayment 0.0% APR payment program is compliant with applicable state and federal consumer credit laws, requires no application, and is supported by a friendly US-based customer service staff. Accounts for the program are issued by WebBank of Salt Lake City, UT. Find more information at http://www.carepayment.com.
About Bank of America
Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than 10 primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. ©2014 Bank of America Corporation.
Visit www.bankofamerica.com/businesscapitalnews for more information.