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Capital One Provides a $150MM Senior Secured Credit Facility to AccessOne

May 31, 2018, 07:06 AM
Filed Under: Healthcare

Capital One announced that it served as administrative agent, sole lead arranger, and bookrunner on a $150 million senior secured credit facility for AccessOne. A leading provider of flexible, co-branded financing options that help patients manage their healthcare costs, AccessOne used the proceeds to acquire HealthFirst Financial LLC and for its working capital requirements.

“Our long-term relationship with AccessOne—stretching back more than a decade—and our team’s in-depth knowledge of the healthcare industry allowed us to develop a loan structure that accommodates the HealthFirst acquisition,” said Al Aria, Senior Managing Director at Capital One Healthcare. “We are pleased to play a role in AccessOne’s emergence as one of the top patient finance companies in the United States.”

AccessOne partners with healthcare providers to offer patient financing options that remove the financial barriers to needed healthcare while ensuring hospitals are reimbursed for services provided. With the addition of HealthFirst, AccessOne now reaches patients at more than 200 hospitals nationwide with a broad array of financing programs.

“The successful completion of this acquisition 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. “Our partnership with Capital One has been instrumental in enabling us to roll out the industry’s most effective and compassionate patient financing programs for leading healthcare providers and their patient communities.”

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