HPS / PayMedix, a leading provider of healthcare financing and payment solutions, announced the closing of $33 million in combined equity and debt financing to fuel the expansion of its PayMedix healthcare payments platform. The $16 million equity investment was led by HLM Investment Partners, joined by Escalate Capital Partners, RVM Enterprises, and existing investor SV Health Investors.
The funding arrives amid rising demand for the platform, which enhances affordable healthcare access by simplifying payments for payors, providers, and patients. “PayMedix is a highly effective platform that streamlines the payment experience for payors, providers, and members,” said Michael Ludwig, Partner at HLM Investment Partners, who will join the board as part of the deal. “In a time where it is critical to reduce provider abrasion and improve member affordability, we are excited to partner with Tom and the HPS / PayMedix team to accelerate growth.”
Escalate Capital Partners provided a $17 million debt facility, supporting growth in technology, software, services, and healthcare sectors. “As employers, providers, and payors look for alternative financing and payment solutions to deal with the affordability crisis in healthcare, demand for PayMedix has skyrocketed in the last year,” said Tom Policelli, CEO of HPS / PayMedix. “With years of 100% provider retention, over 93% employer retention, and consumer satisfaction ratings over 91%, we have proven that we have created a solution that provides value across the board. This new investment will directly support expanding our platform, so more patients can get the care they need, and providers can serve their communities more effectively.”
Tom Flynn, Managing Partner at SV Health Investors, added, “We are pleased to partner with knowledgeable healthcare investors to capitalize the company for a period of rapid growth.”