Health care marketplace MDSave Inc. has raised $2 million in debt financing to support further expansion.
Harpeth Capital advised the Brentwood-based company on the financing and made a direct investment through its Harpeth Ventures unit. The capital will support the company's plans to expand its offerings into 22 new markets by the end of the year.
MDSave targets out-of-pocket health care consumers, including those with high-deductible plans, allowing them to compare and purchase health care services. The company last year raised $5 million and added two heavy-hitters to its board of directors.
"Today's health care costumers are forced to be more savvy and price-conscious users of health care services, and we are seeing the acceleration of this trend at MDSave," Paul Ketchel, MDSave CEO, said in a release. "Not only can consumers achieve savings of 40 percent to 60 percent, but providers soften see increased, and quicker, collections over traditional insurance reimbursement."
Attorneys at Waller advised Ketchel and the MDSave team on the legal aspects of the financing.
UPDATE: The company's filing with the SEC shows that 13 investors from Tennessee and Florida pitched in on the round.
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