AccessOne, a Fort Mill, S.C.-based provider of patient payment options, completed a majority equity investment with Frontier Capital.
The amount of the deal was not disclosed.
The company will use the new funds to:
– Invest in marketing activity and an expanded business development team;
– Continue to enhance its industry leading proprietary technology platform; and
– Build out its organizational infrastructure to support new growth initiatives.
Founded by Russell A. Salton III, M.D., in 2002, AccessOne is a technology-enabled financial engagement platform that helps patients manage their out-of-pocket healthcare costs. The company partners with providers to offer payment options that patients can realistically afford, so hospitals can help every patient on the path to total health while protecting their own financial viability.
Following the deal, Dr. Salton will retain significant ownership and continue in his current role as board chairman, assisting Frontier and the current AccessOne management team led by CEO Mark Spinner (who joined AccessOne in March 2016) with setting the strategy for the company.