Bastion Management Closes $60 Million Facility with HFD

STAMFORD, Conn., March 26, 2024 /PRNewswire/ -- Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $35 million with accordions up to $60 million in Healthcare Finance Direct, LLC ("HFD") to refinance an existing senior lender and fund future growth of their healthcare focused consumer lending profile.

HFD is a financing platform for elective healthcare procedures, allowing providers to approve nearly 100% of patients that apply. HFD works closely with an extensive network of over 2,500 providers to offer patients across the credit spectrum affordable pay-over-time options.

"We are grateful for Bastion's support of our work to advance opportunities in the healthcare consumer lending space," says Tyler Johnson, CEO of HFD. "This line of credit not only fuels our ongoing expansion but also reinforces our commitment to providing accessible, inclusive, and affordable healthcare financing solutions for all."

Jay Braden, CEO of Bastion, added, "We are thrilled to forge a transformative partnership with HFD, and through this Facility, support Tyler and the management team in their efforts to help underserved patients with financing for their healthcare needs."

About Bastion Management

Bastion is a private investment firm that provides creative financing solutions to small and midsized businesses operating in the alternative finance space throughout North America and in the UK. A decade since its inception, Bastion now has closed over 40 transactions and over $1.2bn in total commitments to traditional consumer lending platforms and emerging companies in the financial technology industry. Bastion has a successful track record partnering with companies that have strong management teams and committed equity backing in support of the initial growth stage through to public listing.

About HFD

Based in Bakersfield, CA, HFD is a fintech platform that allows healthcare providers to offer innovative pay-over-time options to nearly every patient, regardless of their credit. Since 2009, HFD has facilitated more than $2bn in treatment to over 1 million patients. HFD has partnered with some of the nation's largest elective healthcare brands to serve the underserved. Learn more at gohfd.com.

SOURCE Bastion Management