Cedar Springs Capital and Crestline Investors, two firms in the Dallas area, have acquired patient financial engagement company CarePayment.
Here are five things to know.
1. With the transaction, Cedar Springs Capital and Crestline Investors now own a majority interest in CarePayment and are investing in the company's growth, according to a news release.
2. The transaction is being facilitated through a restructuring of capital investments by Cedar Springs Capital and Crestline Investors.
3. CarePayment announced the transaction amid a growth interval, according to the release, which notes the company recently signed several high-profile providers and expanded into more than 30 states.
4. Under its new ownership CarePayment, will move its headquarters from Portland, Ore., to Nashville, Tenn., according to the release. "The majority of the executive team is currently located in Nashville and additional employees will be added as the company experiences near term growth," the release states.
5. Commenting on the transaction, Ed Caldwell, CarePayment's chief revenue officer, said in the release: "Being closer to many of our current and prospective clients in Nashville, as well as to the tremendous healthcare talent pool here, will allow us to offer even better service to our provider partners and their patients, as well as pursue additional opportunities for growth and expansion."