WEST PALM BEACH, Fla., July 08, 2020 (GLOBE NEWSWIRE) -- Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $41.6 million Senior Secured Credit Facility (the “Financing”) to Altruista Health, Inc. (“Altruista Health”), a provider of care management and population health management solutions. Altruista Health is a portfolio company of Martis Capital Management, LLC (“Martis Capital”). The Financing was used to refinance certain existing debt and help support the ongoing and future growth of the business.
About Altruista Health:
Altruista Health delivers care management and population health management solutions that support value-based and person-centered care models. Their GuidingCare® technology platform integrates care management, care coordination, authorization management using evidence-based guidelines, member and provider appeals & grievances and quality improvement programs through a suite of sophisticated yet easy-to-use web applications. Health plans and healthcare providers use GuidingCare to transform their processes, reduce avoidable expenses and improve patient health outcomes. Founded in 2007 and headquartered in the Washington, DC area, Altruista Health has grown into a recognized industry leader as GuidingCare has become the largest and most widely adopted platform of its kind in the United States. The company has roots in serving complex populations but has scaled rapidly to serve large national health plans with a full spectrum of members across 40+ states. Employing more than 500 staff members globally, the company supports 35,000 care manager users on the platform daily. Altruista Health has twice been named a Top Population Health Company to Know by Becker’s Healthcare and has earned local and national recognition for growth and innovation. For more information, please visit the website.
About Martis Capital:
Martis Capital is a private investment firm focused exclusively on the healthcare and wellness sector. The Martis team manages more than $1.2 billion of equity capital and is currently investing out of its third fund. With offices in San Francisco, CA, and Washington, DC, Martis seeks to invest in middle market growth companies that provide innovative and cost-effective products and services within targeted segments of the North American healthcare services and information technology sub-sectors. For more information, please visit the website.
About Comvest Credit Partners:
Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York. For more information, please visit the website.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $5.1 billion. Today, Comvest Partner’s funds have over $3.6 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit the website.
For more information:
Greg Reynolds, Comvest Credit Partners – (312) 637-8444, G.Reynolds@comvest.com
Bryce Peterson, Comvest Credit Partners – (561) 727-1823, B.Peterson@comvest.com