Trinity Capital Invests $40 Million in Paytient's Healthcare Payment Solutions

Trinity Capital Invests $40 Million in Paytient

Phoenix, AZ – In a significant move to bolster healthcare accessibility, Trinity Capital Inc. (Nasdaq: TRIN), a premier alternative asset manager, has announced a substantial commitment of $40 million in growth capital aimed at Paytient. This innovative healthcare payments company is dedicated to improving how people afford and access medical care, enabling them to more easily manage out-of-pocket expenses without incurring additional fees or interest.

Paytient stands out in the healthcare landscape by transforming the financial experience for patients, offering a facility for individuals and families to manage healthcare costs over time. Particularly, it allows members to choose lower-premium health plans, with the assurance that any self-pay healthcare expense will be more manageable. This approach not only empowers patients but also helps employers and insurers improve the overall experience of their employee benefits programs.

Jack McNamara, Director of Tech Lending at Trinity Capital, emphasized the growing demand for affordable healthcare solutions, stating, "Paytient is addressing a significant need within the healthcare industry as the demand for flexible payment solutions continues to rise. The expertise and innovative momentum of the Paytient team position them favorably to address this expanding market."

Currently, Paytient proudly serves over 23 million members and partners with nearly 7,000 employers, insurers, and healthcare providers. They incorporate cost-smoothing solutions into employers' health plans, reflecting a much-needed shift towards affordability in healthcare. This ensures that individuals and families no longer have to face overwhelming medical costs, thus also aiding in retaining a healthier workforce.

The newly acquired capital will fuel Paytient’s efforts to expand its reach into larger, employer-sponsored plans, as well as alternative health plans, the ACA marketplace, and Medicare. With a growing trend of plan-embedded out-of-pocket affordability benefits becoming standard, Paytient is positioned at the forefront of this innovation.

Brian Whorley, founder and CEO of Paytient, noted, “Our partnership with Trinity Capital transcends mere funding; it represents a shared vision. We are united in the belief that there exists a better way to help individuals manage their healthcare expenditures. This investment empowers us to scale our operations more rapidly and amplify our positive impact on our members, their supportive employers, and the health plans that facilitate enhanced accessibility to care.”

About Trinity Capital Inc.

Trinity Capital Inc. operates as an established alternative asset manager focused on delivering reliable returns to investors through private credit markets. The company specializes in sourcing, structuring, and investing in well-capitalized, growth-oriented firms. It spans various business sectors, including Sponsor Finance, Equipment Finance, Tech Lending, Asset-Based Lending, and Life Sciences. Headquartered in Phoenix, Arizona, Trinity Capital maintains a dedicated team strategically spread across the United States and in London, UK. For further insights into Trinity Capital's endeavors, visit trinitycapital.com and engage with their latest updates on LinkedIn and X (@trincapital).

About Paytient

Paytient is revolutionizing healthcare accessibility in America, providing employer- and health plan-embedded payment solutions for members to easily cover out-of-pocket medical, dental, vision, pharmacy, and even veterinary expenses. With this innovative framework, Paytient addresses the financial barriers that inhibit access to essential healthcare services across the nation.