HPS/PayMedix closes on $25M in new funding 

January 26, 2023 – Health Payment Systems, Inc. (HPS)/PayMedix announced it has raised another $25 million of funding to accelerate the growth of its groundbreaking PayMedix healthcare financing solution. Credit funds managed by SVB Capital, the venture capital and credit investing arm of SVB, led the financing, and were also joined by all current HPS/PayMedix investors including SV Health Investors, Hexagon, Inc. and Caltius Equity. 

PayMedix increases health equity for all consumers by guaranteeing full and prompt payments of all in-network allowed charges for participating healthcare providers. All consumers can schedule needed services, and their providers all know that full payment is guaranteed. All consumers at a sponsoring employer receive one simplified summary of all of their healthcare activity and know that PayMedix has served as a financial safety net if they needed one. All of these patients are guaranteed access to PayMedix regardless their credit histories.             

The company is expanding to meet rapidly growing demand from healthcare providers and employers to change the way people access, pay for and benefit from healthcare. PayMedix has already processed more than $5 billion in payments and continues to enhance its financial technology platform to offer a complete solution that serves all parts of the healthcare payment equation. 

The new funding round is a mix of debt and equity investments. It will enable HPS/PayMedix to further develop its payment platform, increase staffing, and support geographic expansion. The new financing is noteworthy as it comes at a time when global private funding for financial tech providers has dropped precipitously. 

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