ABILITY Network (ABILITY), a health information technology company that simplifies the complexities of administrative and clinical processes has raised $545 million in debt financing. The proceeds will be used to replace existing debt at lower rates and extended maturities, fund cash to the balance sheet for growth and pay a dividend to shareholders. The new debt financing, along with ABILITY’s strong performance, returns leverage ratios to the same level as when Summit Partners and Bain Capital Ventures invested in ABILITY in 2014.
ABILITY provides applications and analytics that are integral in helping with revenue cycle management, care quality management and performance improvement via a powerful, integrated, cloud-based, SaaS platform. ABILITY has doubled the number of customers it serves in the last three years, directly helping providers of all sizes and sites of care across the continuum, and serving thousands more via partnerships.
“This financing enables us to execute on our balanced approach to capital stewardship: investing in the growth of our customers and employees, offering new products to help providers, and returning capital to our shareholders,” said Mark A. Pulido, chairman and CEO of ABILITY in a statement. “ABILITY will continue to pursue a disciplined growth strategy of increasing its provider network, building new applications, and enhancing applications from acquired companies.”
