Peloton Equity Leads Growth Investment in OnPoint Healthcare Partners
Summary
Growth Capital Proceeds to Fund Continued Technology Development and Accelerate the Companys Sales and Marketing and Client Services EffortsPeloton Equity Led the Round and Is Joined by Fort Maitland CapitalDALLAS, January 25, 2024--(BUSINESS WIRE)--Peloton Equity, LLC ("Peloton"), a Connecticut-based private equity firm that seeks to invest growth capital in innovative healthcare companies, announced today that it has closed an investment in OnPoint Healthcare Partners, Inc. ("OnPoint" or the "Company"), a fast-growing AI-enabled technology services provider that offers a suite of solutions to hospitals and medical groups designed to reduce physician burnout and improve administrative efficiencies. The investment will be used to enable OnPoint to accelerate its product development roadmap, bolster its sales and marketing efforts, and strengthen the Companys plauded customer service.Founded in 2020 by Jim Boswell (CEO) and Rodney Haynes (COO), OnPoint leverages proprietary AI-enabled technology, a global team of physicians and change management guidance to deliver solutions that reduce the administrative burden of "desktop medicine" facing healthcare practitioners across the country. "We are thrilled to be partnering with Peloton to help OnPoint capitalize on the massive and unmet need to support providers in an increasingly complicated environment," said CEO Jim Boswell. The Companys unique workforce is empowered by its proprietary cloud-based technology ecosystem ("IRIS Cloud"), which includes Remote Process Automation and Artificial Intelligence capabilities. He is the founder and former CEO of AeroCare Holdings, a home medical equipment and respiratory therapy services company that was sold to AdaptHealth (NASDAQ: AHCO) in 2021 for over $1.5Bn.