| |
property for sale in balchik varna brovets bansko bulgaria
News and Information Article
Triples Term Loan to Physician Enterprise Management Service
HARTFORD, Conn., Jan. 24 // -- ORIX Venture Finance, a leading
provider of expansion capital to mid- to late-stage venture-backed companies,
announced today that it has significantly increased the growth capital
provided to Watertown, Mass.-based athenahealth, Inc., the premier provider of
online revenue cycle management services for medical practices. ORIX Venture
Finance raised its term loan to athenahealth from $4 million to $12 million,
which brings ORIX Venture Finances total commitment to $15 million, including
an existing $3 million equipment loan.
"We are delighted to continue our partnership with athenahealth and its
investors. We believe the company will continue to dominate the physician
revenue cycle management marketplace," said William D. Bishop, principal, ORIX
Venture Finance. "We aggressively support customers that achieve their plans.
athenahealths management team has done a great job with its performance,
exceeding our expectations."
athenahealth offers the industrys leading revenue cycle management
solution, a unique combination of web-based practice management software,
unrivaled payor knowledge, and comprehensive business services, from
eligibility verification to claims submission to insurance collection. In
2005, the company was cited for its growth in several ways: ranking #77 on the
Inc. 500, a ranking of the fastest-growing private companies in the U.S., #144
in the 2005 Deloitte Technology Fast 500 (private and public companies), and
#10 in Deloittes prestigious Technology Fast 50 Program for New England.
"We continue to expand our business and maintain our position as the
leading revenue cycle management solution for physicians," said Jonathan Bush,
chief executive officer, athenahealth. "ORIX Venture Finances ability to
continue to grow with us helps us focus on operating our business instead of
financing concerns."
"By increasing our credit facility and extending the interest-only period,
ORIX Venture Finance has helped us gain capacity for our growth initiatives
and has improved our cash flow," said Carl Byers, chief financial officer,
athenahealth. "ORIX worked quickly to provide this additional financing. They
continue to build on our successful partnership by demonstrating their
flexibility and commitment to support our company."
Recently, ORIX Venture Finance completed other significant East Coast debt
transactions for Visiprise in Alpharetta, Ga.; Softek in Vienna, Va.; and
Optasite in Westborough, Mass.
About ORIX Venture Finance, LLC
ORIX Venture Finance, LLC, a member of the Corporate Finance Group of ORIX
USA Corporation, with offices in Silicon Valley; Newport Beach, Calif.;
Hartford, Conn.; New York; Northern Virginia; and Dallas, provides enterprise
financing to mid- to late-stage companies via acquisition and growth capital.
The ORIX Venture Finance team consists of experienced finance professionals
who understand the challenges growth companies face and structure flexible
financing packages to meet these unique needs. For more information about ORIX
Venture Finance, go to http://www.orix.com.
About athenahealth
athenahealth offers the only physician revenue cycle management service
that integrates practice workflow, payor knowledge, and billing and
collections specialists into a single service on a single Web-based technology
platform. The results are faster payment at lower cost, higher revenue
retention and less hassle for more than 5,000 providers nationwide. The
company collects over $1.4 billion on behalf of its clients annually.
athenahealth is dedicated to helping providers make optimum use of their time,
ultimately improving the quality of service delivered and the financial reward
for it. For more information about athenahealth, visit our Web site at
http://www.athenahealth.com or call 1-888-652-8200.
| |
|
|
 |
property for sale in balchik varna brovets bansko bulgaria |
|
|
|
|
|
|
|
|
|
Locations
