Experity Ventures closed a structured credit facility, providing an initial $65 million and up to $100 million, to support the growth plan for its newly acquired portfolio company, ProMed Capital.
“This structured facility comes on the heels of our recent acquisition of ProMed Capital and supports our plan of accelerated, organic and strategic growth for the company,” Joseph Greco, founder and chairman of Experity Ventures, said.
“We plan to be disciplined, yet opportunistic in expanding on ProMed’s leadership position in an exciting and evolving space.” Ryan Silverman, CEO of Experity, said. “We were able to conclude this transaction under very favorable terms with a partner that sees the value of our platform and is equally excited to help us realize our growth potential.”
ProMed is a provider of medical receivable funding solutions.