GE Healthcare Financial Services has provided a $20 million revolving line of credit to Centric Health Finance, LLC.
The La Jolla, Calif.-based company will use the loan for general corporate purposes, including growing its VirtualPayor business, which provides specialty physician practices with an integrated solution that collapses their accounts receivables, consolidates third-party payers into a single source for immediate payment and streamlines billing and collections.
"Having a strategic partner like GE Healthcare Financial Services gives Centric Health Finance the financial wherewithal and flexibility to execute our growth plans,"Â said Chris Barrett, Centric's president and CEO.
"GE Healthcare Financial Services was able to combine its financial expertise with its healthcare industry knowledge to provide a loan that was unique to Centric Health Finance,"Â said Joe Moss, managing director of commercial lending for GE Healthcare Financial Services. "The financial solution's flexibility recognizes Centric's current position in the market and will grow with the business"Â - General Electric.
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