Comvest Capital has made an investment in CarePayment Technologies Inc, a patient financial engagement company. No financial terms were disclosed.
West Palm Beach, FL – July 2017 – Comvest Partners, through its lending strategy, Comvest Capital (“Comvest”), has acted as Administrative Agent and Lender in providing a $90.0 million senior secured credit facility (the “Financing”) for CarePayment Technologies, Inc. (“CarePayment” or the “Company”), a leading patient financial engagement company that partners with healthcare providers to offer patients zero percent interest payment programs.
“CarePayment has experienced very strong growth in the first half of 2017,” said Craig Hodges, CEO of CarePayment. “To stay well ahead of the demand, we were looking for a strategic partner for a new credit facility, and found it with Comvest Partners. 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.”
“CarePayment is led by an exceptional management team with an outstanding reputation. The Company is well positioned in the industry and we look forward to supporting their growth initiatives in the years to come,” said Jason Gelberd, Partner at Comvest.
About CarePayment Technologies, Inc.
CarePayment is a patient financial engagement company that accelerates providers’ transition to the new consumer-driven healthcare market. Powered by advanced technology and analytics, CarePayment’s innovative patient financing solutions improve patient satisfaction and loyalty while delivering superior financial results. 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. CarePayment’s patient-friendly financing 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, Member FDIC. Find more information at www.carepayment.com.
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, the firm has invested $2.7 billion in over 150 companies. Today, Comvest’s funds have $2.6 billion of assets under management. Through its extensive capital resources and broad network of industry relationships, Comvest offers companies financial sponsorship, critical strategic and operational support, and business development assistance.