PHILADELPHIA, PA and NEWPORT BEACH, CA (August 31, 2017) – InstaMed, healthcare’s most trusted payments network, announced today that it has expanded its credit facility through a new banking relationship with Bridge Bank. The new partnership will support the accelerated growth of the InstaMed Network of providers, payers and consumers.
“The InstaMed Network is connecting providers, payers and consumers across the U.S., including every national and regional payer and 9 out of the top 10 children’s hospitals,” said Bill Marvin, President and CEO of InstaMed. “We are excited to partner with Bridge Bank to continue the momentum of the InstaMed Network and support InstaMed’s mission to simplify the healthcare payments experience for all users.”
“At Bridge Bank, we are committed to designing financial solutions for companies that have the potential to transform business as usual,” said Matt Klinger, Senior Vice President of Bridge Bank’s Mid-Atlantic technology banking group. “The healthcare industry is ripe with opportunities to disrupt the status quo and create a better way to do business, and InstaMed is doing that. All of us at Bridge Bank look forward to InstaMed’s continued growth and success.”
InstaMed is healthcare’s most trusted payments network, connecting providers, payers and consumers on one platform. The InstaMed Network connects over two-thirds of the market and processes tens of billions of dollars in healthcare payments annually. InstaMed reduces the risks, costs and complexities of working with multiple payment vendors by delivering one platform for all forms of payment in healthcare, designed and developed on one code base and supported by one onshore team of experts in healthcare payments. InstaMed enables providers to collect more money from patients and payers while reducing the cost and time to collect. InstaMed allows payers to cut settlement and disbursement costs with electronic payments and facilitate consumerism for their members.
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance ranks #4 on the Forbes 2017 “Best Banks in America” list. For more information, visit bridgebank.com.