Echo Health Ventures Announces Investment in AccessOne
Investment will fund AccessOne’s acquisition of HealthFirst Financial, and expansion as a nationwide leader in patient financial engagement
DURHAM, N.C. – (June 13, 2018) -- Echo Health Ventures, a strategic collaboration of Cambia Health Solutions and Mosaic Health Solutions, today announced the completion of a strategic investment in AccessOne, a leading provider of patient financing options designed to help patients manage their health care costs.
The investment will help fund AccessOne’s acquisition of HealthFirst Financial, a leading software-enabled service provider of patient financing programs to health care organizations. With the acquisition, AccessOne becomes one of the largest and most experienced national platforms for tailored patient financing solutions in health care.
“Flexible financing options empower consumers to ensure they get the care they need, when they need it, regardless of financial circumstance,” said Mark Spinner, CEO, AccessOne. “AccessOne has the potential to help consumers realize better outcomes by lowering the socioeconomic barriers that keep people from seeking care due to cost.”
As out-of-pocket health care costs in the U.S. continue to increase, consumers are struggling to bear more of the financial responsibility and decision making. AccessOne provides consumer-friendly financing programs in partnership with health systems by offering people low- and zero-interest loans for out-of-pocket medical expenses.
“The combination of AccessOne and HealthFirst creates a powerful growth platform with the broadest offering in the market today,” said Dusty Lieb, partner, Echo Health Ventures.
“A key priority for Echo Health Ventures and our parent companies is to provide consumers with the tools for financial well-being,” said John Park, managing director of market development, Echo Health Ventures. “We’re excited to partner with AccessOne to bring consumers and providers into a more direct financial and clinical relationship that alleviates a critical pain point in the consumer financial journey.”
Frontier Capital, who has a majority ownership stake in AccessOne, led the investment round with participation from Echo Health Ventures.
AccessOne is a leading provider of flexible, co-branded patient financing solutions. Founded by providers, our solution provides a consumer-focused experience which drives high patient satisfaction for our clients. We have helped over one million consumers afford out-of-pocket medical expenses for health systems nationwide. We offer the most comprehensive platform in the industry with funding models that help more providers and programs that reach more patients. All patients qualify for our program with no credit reporting or negative outcomes. To learn more, visit www.accessonemedcard.com. Connect with us on LinkedIn.
ABOUT ECHO HEALTH VENTURES
Echo Health Ventures LLC invests to build and grow tomorrow's great health care companies. We invest across every stage and work with our portfolio companies to challenge and transform the health care system. As a strategic collaboration of Cambia Health Solutions and Mosaic Health Solutions, we work closely with our Parents to catalyze the development of our portfolio companies' and accelerate their innovations to scale nationally. Echo Health Ventures operates nationwide with offices in Seattle, Durham, N.C., and Portland, Ore. Follow us on Twitter @healthecho.
ABOUT FRONTIER CAPITAL
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on software and technology-enabled business services companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. The firm makes minority and majority equity investments in high-growth companies. For more information, please visit www.frontiercapital.com or follow Frontier on Twitter @TheFrontierTeam.