NEW YORK, NY, July 20, 2020 - Bryant Park Capital (“BPC”), a leading middle market investment bank, announced today that ProMed Capital Ventures, LLC (“ProMed” or the “Company”), a leading provider of financing to medical practices and facilities in the United States, has been sold to Experity Ventures, LLC the parent company for several specialty finance and legal funding related services businesses in the United States, including Nexify Holdings, Medsolve Financial Group, and Thrivest Legal Funding, LLC DBA Thrivest Link. The financial terms of the transaction were not disclosed.
BPC served as exclusive financial advisor to ProMed.
“Bryant Park Capital was instrumental in advising ProMed throughout the entire process, from comparing liquidity options for shareholders to managing a lengthy negotiation and closing process. The team at BPC provided thoughtful advice to ProMed throughout the process and helped us to achieve a successful outcome,” said David Shulman, Co-Founder and CEO of ProMed. “We ended up finding the perfect partner for ProMed and its employees and clients, and we appreciate BPC’s guidance and efforts in making this possible.”
Founded in 2013, ProMed is a leading provider of medical receivable funding solutions. ProMed partners with healthcare providers, surgery centers and diagnostic and related facilities throughout the U.S. that provide patient care in exchange for medial liens (ML’s) or medical letters of protection (MLOP’s). The company predominately funds medical services for patients who have been injured as a result of a personal injury accident or event. Based in Las Vegas, NV, ProMed provides immediate reimbursement to doctors, surgeons, medical facilities and other professionals on behalf of patients while obtaining the healthcare provider’s ML/MLOP against contingent future legal proceeds. Victims of personal injury can get access to the healthcare they need whether they have health insurance or not, and medical providers can enhance their practices and serve this patient population, while immediately improving cash flow and financial liquidity.
For more information on ProMed, please visit www.promedcapital.com.
About Experity Ventures
Experity Ventures, founded in 2019, is the parent company for Nexify Capital and Nexify Solutions, MedSolve Financial Group and Thrivest Legal Funding, LLC / dba Thrivest Link. Nexify Capital has entered into several strategic financing and operational partnerships with legal funding companies in the United States. Nexify Solutions develops and markets best in class enterprise and work flow software for the legal funding market place, which is designed to automate pre-settlement funding from intake to decision analytics, to servicing and payoff, while offering full accounting and reporting capabilities. Thrivest is a direct to market pre-settlement legal funding company that has successfully provided thousands of non-recourse advances to individuals with pending litigation, predominately in personal injury cases. Experity has offices in Philadelphia, New York, Nevada and Florida.
For more information on Experity, please visit www.experityventures.com