InstaMed, a Philadelphia, PA- and Newport Beach, CA-based healthcare payments network, raised $50m in growth equity funding.
Carrick Capital Partners made the investment. In conjunction with the funding, Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners, will join InstaMed’s board of directors, and Chris Wenner, a Vice President at Carrick Capital Partners, will become an observer to the board.
The company intends to use the funds to grow the InstaMed Network, accelerate go-to-market strategy and drive further innovation in healthcare payments technology.
Led by President and CEO Bill Marvin, InstaMed provides solutions that enable providers and payers to manage all of their healthcare payments on a single platform, integrated into any healthcare IT system. The network connects over two-thirds of the market and processes tens of billions of dollars in healthcare payments annually.