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Aequitas Secures $60MM Credit Facility From Bank of America for CarePayment Program

May 14, 2014, 07:34 AM
Filed Under: Lender Finance

Aequitas Capital, an alternative asset management company specializing in private credit and private equity strategies, today announced that it has reached an agreement with Bank of America Merrill Lynch for a three-year credit facility of up to $60 million to support Aequitas' funding commitment to the CarePayment healthcare finance program. CarePayment is one of several Aequitas portfolio companies whose operation benefits from the Aequitas finance and operating platform. CarePayment partners with healthcare providers to provide patients access to 0.0% APR financing for up to 72 months to pay for out-of-pocket medical expenses.

“Aequitas is extremely pleased about its new relationship with Bank of America Merrill Lynch and looks forward to more collaboration in the years ahead,” said Aequitas CFO Olaf Janke. “This credit facility is another significant milestone in what has been a very successful year for Aequitas, with close to $120 million in senior debt raised from mainly commercial banks adding to a diverse capital base that also includes debt investments from high net worth individuals and family offices and fund investments from accredited investors and endowments. Through its industry-leading Bank of America Business Capital group, Bank of America Merrill Lynch has provided Aequitas with its largest single source of debt capital in the firm's history.”

“Aequitas Capital has developed an innovative and sustainable finance structure to support the CarePayment program,” said Roger Hinshaw, Bank of America Merrill Lynch President for Oregon and Southwest Washington. “With funding from Aequitas, the CarePayment program is able to deliver value to every participant in the purchase cycle, benefiting healthcare providers and patients. We're proud to support the work Aequitas and CarePayment are doing to help make healthcare more affordable and accessible.”

Founded in 1993, Aequitas Capital is an alternative investment management company dedicated to innovation, discipline and excellence. With proven expertise in finance, management and technology – Aequitas sources, structures and implements Private Credit and Private Equity solutions, benefiting the individuals and institutions that trust us as a valuable investment partner.

Headquartered in Lake Oswego, Oregon, CarePayment is a healthcare finance company that helps people manage their out-of-pocket medical expenses.

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