Tampa’s HealthAxis receives growth equity investment

HealthAxis, a Tampa-based administrative processing services company for health care payers and organizations, received a growth investment from Revelstoke Capital Partners.

McGuireWoods acted as legal counsel to Revelstoke. Shumaker, Loop & Kendrick acted as legal advisors to HealthAxis. The terms of the transaction were not disclosed.

“HealthAxis and Revelstoke understand there is an urgent need to digitalize and promote efficiency within our health care system. We will use this significant new capital to drive growth through targeted product innovation and investment in our team, all while maintaining our focus on customers. We are excited by this new partnership and I am deeply grateful to our employees for their years of hard work and dedication. I also thank our customers who, through their loyalty and partnership, have positioned us for this transformative growth opportunity,” said Shilen Patel, founder and CEO of HealthAxis, in a statement.

Revelstoke Capital Partners, based in Denver, is a private equity firm focused on investing in health care companies. It has $4 billion of assets under management, the statement said.

“Revelstoke is excited to work alongside HealthAxis’ management team to pursue complementary acquisitions to broaden the company’s solution suite and better serve its customers,” said Cy Barton-Dobenin, Principal at Revelstoke. “This significant investment will allow the company to enrich, and extend, its care management, payment integrity and AI-driven automation capabilities for HealthAxis customers.”

You May Also Like

The Centre for Women announces new Program Director for Women’s Business Center

By J.C. Barrott The Centre for Women’s Tampa Bay Women’s Business Center has appointed Jennifer Schultz as a new Program Director. Schultz has served in pivotal roles within the United

Embarc Collective’s Builder Series to feature CEO of Tampa International Airport

By J.C. Barrott Embarc Collective’s Builder Series is featuring Joe Lopano, the CEO of Tampa International Airport. With Lopano’s leadership as CEO for the past 13 years, Tampa International Airport

Florida Poly lands state funding for new Student Achievement Center

Florida Polytechnic University, in Lakeland, has secured $5.7 million in the upcoming state budget for a new Student Achievement Center, to fund the project’s preliminary design stage. The funding was

Local Partners unite to inspire future female leaders in STEM

By J.C. Barrott The Florida Aquarium and the Museum of Science & Industry (MOSI) are teaming up with Hillsborough County Public Schools and ZooTampa at Lowry Park to inspire young

Other Posts

Qualenta Kivett and Wendi Goodson-Celerin of Tampa General Hospital recognized as black healthcare leaders to know

By J.C. Barrott Tampa General Hospital’s Executive Vice President and Chief People and Talent Officer, Qualenta Kivett, and Senior Vice President and Chief Nursing Executive, Wendi Goodson-Celerin, have been recognized

Healthcare by Becker’s hospital review honors Tampa General Hospital as a top place to work

By J.C. Barrott Tampa General Hospital is among the top places in the U.S. to work in healthcare, according to Becker’s Hospital Review’s 2024 “150+ Top Places to Work in

St. Pete-Clearwater International adds new, Allegiant non-stop flight destinations to Evansville, IN & McAllen, TX

By J.C. Barrott New routes to St. Pete-Clearwater International Airport (PIE) in Florida, includes Evansville, Indiana via Evansville Regional Airport (EVV), and McAllen, Texas via McAllen International Airport (MFE). St.

USF Foundation Board of Directors adds eight new members

By J.C. Barrott The USF Foundation Board of Directors recently added eight new members, to further their vision of inspiring philanthropy and administering resources that support USF’s pursuit of excellence.