Capio Expands Line Of Credit To Fuel Continued Record-Breaking Growth

ATLANTA, Oct. 20, 2021 /PRNewswire/ -- Capio, one of the largest healthcare asset management companies in the country, announces the expansion of its line of credit. Capio will now have up to $70 million available, which the Company will use to buy additional debt from hospitals while strengthening consumer relationships. The line of credit has been financed by Woodforest National Bank in syndication with three other nationally recognized financial institutions. The announcement was made by Mark Detrick, Capio Chief Executive Officer and Chris Veigel, Capio Chief Financial Officer.

"At Capio, we're focusing our efforts on two primary initiatives: 1) Assisting providers with accelerating their cash flow; while 2) Helping patients burdened with medical debt achieve financial wellness," said Detrick. "This line of credit demonstrates our laser-sharp focus on enhancing Capio's consumer relationships while having a significant impact on our healthcare providers."

Veigel added, "The expansion of our line of credit is a direct result of our continued record-breaking growth and our product road map dedicated to enhancing the patient experience." We look forward to infusing additional cash into our current medical providers and new clients within the healthcare market.

"Woodforest National Bank is pleased to announce our continued financial relationship with Capio," noted Julie Dargani, Executive Vice President, Head of Mid Atlantic Corporate Banking at Woodforest National Bank. "Capio is a leader within the healthcare asset management space. They have a proven management team and business model that is well received by their healthcare partners. We are even more excited about the direction they are taking with their organization as they fulfill their mission to help consumers burdened with medical debt. We are proud of our current partnership and look forward to an ongoing relationship with Capio."

"It's a win-win situation for every facet of our business and we couldn't be more pleased to make this announcement. We are focused on becoming better partners to our clients and developing initiatives to help patients resolve their medical bills and achieve financial wellness," explained Detrick. 

About Capio

Capio assists healthcare providers and physician organizations increase cash flow, while also lowering their bad debt expense. To date, Capio has acquired $36B in patient accounts receivable, and provided consumer services to over 20M consumers via partnerships alongside more than 750 provider clients across the United States. To learn more about Capio, please visit our website.

SOURCE Capio