The Company
PaySpan is the leading provider of healthcare reimbursement and payment automation. The company securely transfers healthcare payments and facilitates alternative reimbursement strategies that improve health, improve patient experience and reduce cost. With more than 25 years of payment expertise and over $60B in annual payment volume, PaySpan enables the flow of commerce among 689 health plans, their 107 million members, 1.3 million provider payees and 5,000 financial institutions that it connects.
The Partnership
Topmark was attracted to the rapidly growing, highly recurring business with a proprietary technology platform. Payspan’s platform offered a clear value proposition that delivered significant measurable benefits for customers. The company’s client base was comprised of top-tier financial firms and Fortune 500 companies. Topmark served as a trusted advisor to the CEO and CFO of Payspan. We provided guidance regarding capital markets and made introductions to other Topmark portfolio companies to forge strategic alliances in related industries and generate new business.
Topmark invested in Payspan through a legacy fund and exited its investment when Fortis Advisors, LLC, which is backed by Primus Capital, acquired a controlling interest in 2016.