GE Healthcare Financial Services has provided a $20 million revolving line of credit to Centric Health Finance, LLC. The La Jolla, Calif.--based company will use the loan for general corp
CHICAGO--(BUSINESS WIRE)--GE Healthcare Financial Services has provided a $20 million revolving line of credit to Centric Health Finance, LLC. The La Jolla, Calif.--based company will use the loan for general corporate purposes, including growing its VirtualPayor™ business, which provides specialty physician practices with an integrated solution that collapses their accounts receivables, consolidates third-party payers into a single source for immediate payment and streamlines billing and collections.
"Having a strategic partner like GE Healthcare Financial Services gives Centric Health Finance the financial wherewithal and flexibility to execute our growth plans," said Chris Barrett, Centric's president and CEO.
"GE Healthcare Financial Services was able to combine its financial expertise with its healthcare industry knowledge to provide a loan that was unique to Centric Health Finance," said Joe Moss, managing director of commercial lending for GE Healthcare Financial Services. "The financial solution's flexibility recognizes Centric's current position in the market and will grow with the business."
About GE Healthcare Financial Services
GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit http://www.gehealthcarefinance.com.
About Centric Health Finance
Centric Health Finance was founded in 2005 to address the changing dynamics in healthcare reimbursement. The company provides business management & financial services that solve the economic challenges facing healthcare providers and entities whose primary focus is managing complex diseases. Centric Health Finance's lead product, VirtualPayor™, provides specialty physician practices like Oncologists, Rheumatologists and other financially burdened specialists, with an integrated solution that collapses their accounts receivables, consolidates third-party payers into a single source for immediate payment and streamlines billing and collections. Centric also offers creative business process and financial solutions to other participants in the healthcare industry. For more information on Centric Health Finance call (877) 450-4227 or visit http://www.centrichf.com.
Contacts
GE Healthcare Financial Services
Deia Campanelli
312-441-6169 or [email protected]
Centric Health Finance, LLC
Larry Milocco
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892