InstaMed, healthcare’s most trusted payments network, announced a $50 million investment from Carrick Capital Partners, an investment firm jointly based in Newport Beach and San Francisco, CA that focuses on technology-enabled businesses including SaaS, BPO and Transaction Processing.
The investment will be used to drive the growth of the InstaMed Network, accelerate go-to-market strategy and drive further innovation in healthcare payments technology. InstaMed’s solutions enable providers and payers to manage all of their healthcare payments on a single platform, integrated into any healthcare IT system. As consumer healthcare payment responsibility continues to soar, InstaMed’s innovative solutions offer ways for providers and payers to address the demands of consumerism while maintaining the highest levels of security and compliance.
“We are very excited to be working with InstaMed President and CEO Bill Marvin and his team, who are revolutionizing healthcare payments by simplifying the experience for providers, payers and consumers,” said Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners. “We identified InstaMed as part of our thematic sourcing efforts in healthcare technology and recognized the value of their unique single-technology platform, network effect business model and relentless focus on security and compliance,” he added.
Madden will join the InstaMed board of directors, and Chris Wenner, a Vice President at Carrick Capital Partners, will become an observer to the board of directors.
“We are thrilled to partner with Carrick Capital Partners and benefit from their deep experience in the healthcare marketplace,” said Bill Marvin, Co-Founder, President and CEO of InstaMed. “Carrick’s investment and experience will help drive the growth of the InstaMed Network and enhance the healthcare payment experience for providers, payers and consumers.”
Cowen and Company served as InstaMed’s sole financial advisor.