Aequitas & CarePayment Secure $35 million Liquidity Line with Goldman Sachs Bank USA
Portland, Ore. — December 17, 2010 — Aequitas announced today that they received a $35 million liquidity line from Goldman Sachs Bank USA to enhance Aequitas’ CarePayment business. CarePayment partners with high quality organizations who provide healthcare services, and supports the delivery of these services by making them affordable to patients in their communities. The company’s proprietary financial services and technology offerings enhance the collectability of healthcare providers’ charges. Cobranded with the healthcare provider, the CarePayment card features an extended payment term with minimal or zero interest charges, and treats each patient with respect. CarePayment operates on a national level, and is presently experiencing rapid adoption in many sectors of the healthcare marketplace.
This agreement is the culmination of a nearly year-long, vigorous due diligence process between Aequitas, CarePayment and Goldman Sachs Bank USA. The successful completion of this due diligence process lets CarePayment extend its services to an even greater population of healthcare providers and their patients.
This new liquidity line allows Aequitas and CarePayment to bridge the funding of new healthcare receivables with investor capital, while improving overall liquidity.
“We are thrilled with this new liquidity line,” said Robert Jesenik, CEO of Aequitas Capital Management. “It further enables us to improve our customers’ financial performance, and helps them more fully realize their mission.”
About Aequitas, Inc.
Founded in 1993, Aequitas is a value-oriented investment management firm that offers a variety of investment strategies with a focus on healthcare. This is executed via credit and private equity vehicles, emphasizing financial return with social benefits. Aequitas and its principals have applied their market insight, expertise and discipline to more than $2.5 billion in customized transactions.
For more information, visit www.aequitascapital.com
About CarePayment
Established in 2004, Portland, Oregon based CarePayment® is an innovative patient-pay solutions program that enables patients to pay for hospital services at 0% interest over an extended period of time, while providing hospitals with immediate funding for patient-pay receivables. This unique program enables hospital clients to improve cash flow, reduce receivable days and dramatically increase the percentage of collected patient-pay receivables. Hospitals that have implemented CarePayment have seen notable improvements on their balance sheets and reported increased patient satisfaction.
For more information, visit www.carepayment.com
About Goldman Sachs Bank USA
Formed in 2002 and expanded in 2006, Goldman Sachs Bank USA is an FDIC-insured bank regulated by the Federal Reserve, and authorized to conduct banking business nationwide. Goldman Sachs Bank USA makes consumer and commercial loans and accepts federally insured deposits.
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