Daily News: February 28, 2017

Capital One Closes $50MM ABL Facility for Patient Finance Company

Capital One provided a five-year, $50 million senior ABL credit facility to AccessOne, a provider of patient payment options designed to help patients manage their healthcare costs.

AccessOne will use the proceeds to replace and expand an existing facility and to provide working capital to fund future growth. Fort Mill, SC-based AccessOne currently serves hospitals in North Carolina, Florida, Georgia, South Carolina and Tennessee.

“We have known the AccessOne team for more than a decade, and we’re excited to be their financial partner in this phase of expanded growth,” said Al Aria, senior managing director at Capital One Healthcare. “They needed a flexible loan structure, and our team brought both the healthcare industry knowledge and state of the art cash management services that AccessOne required.”

“AccessOne’s successful recapitalization is a great step forward for our company, as well as for the healthcare providers and patients we serve,” said Mark Spinner, CEO of AccessOne. “We are very pleased to have a top national bank like Capital One, with significant healthcare and consumer experience, as a national partner.”

In addition to the facility, Capital One will provide AccessOne with treasury management services.