Aequitas Capital announced that it has reached an agreement with Wells Fargo to provide $100 million in additional financing to support the fast-growing demand for CarePayment® and its patient financial engagement programs. This new commitment supplements a $60 million financing agreement with Bank of America Merrill Lynch executed this past May, thereby increasing Aequitas Capital's funding of CarePayment to $200 million of senior debt.
"Almost half of all Americans say that basic medical costs are a hardship and far too many don't seek the help they need. CarePayment provides patient financing solutions so that people don't have to forgo medical treatment because they can't afford it," said Bob Jesenik, Aequitas CEO. "Aequitas is committed to providing all the financial and other resources its portfolio companies need to succeed. Securing this financing through Aequitas will allow CarePayment to expand its efforts to make healthcare more affordable and accessible."
CarePayment is one of several Aequitas portfolio companies which benefits from the Aequitas finance and operating platform. CarePayment partners with healthcare organizations across the United States to remove financial barriers to care by featuring payment options at 0.00% APR for the life of the account and with no impact on credit reports.
"The financing from Wells Fargo is a strong vote of confidence for CarePayment and our expanding patient financial engagement programs," says Craig Hodges, CarePayment CEO. "With the rise of healthcare consumerism, our financing options also satisfy the higher expectations of patients who want providers to help them cope with financial as well as clinical matters of care."
SOURCE Aequitas Capital