CHARLOTTE, N.C. – AccessOne, a leading provider of patient financing options designed to help patients manage their healthcare costs, today announced that it has completed the second step in a growth recapitalization by closing a new credit facility with a group of lenders. The new credit facility, led by Capital One Bank with participating lenders Huntington Bank and Capital Bank (of Charlotte, N.C.), along with the previously announced Frontier Capital investment, brings a total of roughly $70 million of new capital to the company. The new funds will be used to further support AccessOne’s national expansion and continued investment in its proprietary technology platform connecting patients with the compassionate financing they need to access care.
“The successful completion of this financing is a great step forward for our company, as well as for the healthcare providers and patients we serve,” said Mark Spinner, Chief Executive Officer of AccessOne. “ As a company founded by providers for providers, this partnership with the bank group will help us continue to innovate the industry’s most effective and compassionate patient financing programs for leading healthcare providers and their patient communities.”
Stephens Inc. served as the exclusive financial advisor to AccessOne.
“AccessOne’s platform enables a health system to provide empathetic financing solutions to their patients anywhere in their revenue cycle without interrupting their normal workflows,” said Andrew Lindner, Managing Partner of Frontier Capital. “We are excited about the partnership with the AccessOne team as part of our investment thesis around the trends toward consumerism in healthcare.”