Aspirion Health Resources, a revenue cycle management company for hospitals, has nabbed an undisclosed investment from Aquiline Capital Partners.
Founded in 2012, the company provides healthcare providers with technology to simplify the claims processes. The platform helps hospital billing staff with reimbursements for motor vehicle accidents, workers’ compensation, the veteran’s administration, and Tricare as well as underpayments and denials.
This investment will be used to support growth through the expansion of its solutions nationwide.
Aquiline Chairman and CEO Jeff Greenberg said, “We have long viewed healthcare as a natural extension of Aquiline’s established expertise in the insurance, billing, and payments industries.
“Given Aspirion’s focus on payments from property and casualty payers, we are excited to leverage our deep experience with these payers to help Aspirion meet healthcare providers’ toughest revenue challenges, and we see significant opportunities to create growth.â€
Alongside the new funding round, Aspirion announced the appointment of Michael O’Boyle as executive chairman.
Aquiline recently bought RIA in a Box, a compliance workflow solution for wealth managers, for an undisclosed amount. Other deals by Aquiline in the FinTech space include a leading investment in run-off insurance company Armour’s $500M equity round, and in Bitcoin payments solution BitPay’s $30m Series B.
Last year, the firm closed its first fund dedicated to early- and growth stage deals on $190m, surpassing its initial target of $150m. Areas of interest for the fund include InsurTech, sset management, benefits and retirement, security, data and analytics and enterprise software.
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