Payspan, Inc., an Atlanta, GA-based healthcare technology company, received major growth investment from Primus Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to invest in expanded marketing and sales initiatives to drive customer engagement and to expand its product portfolio.
Led by Rex Adams, Chief Executive Officer, Payspan provides payment automation services for payers and providers to improve administrative efficiency, meet regulatory requirements, and manage new reimbursement strategies. It operates a healthcare electronic network of over 650 major health plans, 1,300,000 provider payees, and 107 million consumers,
In addition to the flagship core Payspan network, the company recently launched a major upgrade to its provider revenue cycle management solution called Patient Financial Engagement® (PFE), which enhances provider’s ability to collect patient payments at the point-of-care and reduce bad debt.