CARMEL, IN – Nov. 1, 2023 – Zotec Partners (Zotec), a company leading the way to improve the business of healthcare, announced the successful completion of its first-lien term loan B refinancing. Following a thorough vetting process with lead arranger Goldman Sachs, the company is replacing its existing public facility with a new five-year term loan maturing in 2028 with Francisco Partners, a leading global investment firm specializing in partnering with technology businesses.
“We are extremely pleased to complete our refinancing with an established team like Francisco Partners. As we continue to transform revenue cycle management (RCM), gaining financial flexibility is key,” said T. Scott Law, founder and CEO of Zotec Partners. “We entered this market 25 years ago and fortified our status as an industry leader because of our incredible people, innovative processes, and cutting-edge technology. This new facility will help us continue to meet and exceed the needs of our clients and their patients in this dynamic healthcare landscape.”
Zotec was driven by many factors during the refinancing process, including value alignment, strategic focus, and team culture by supporting, developing, and valuing its passionate and dedicated team members. The final agreement was based on both organizations’ complementary priorities, principles, and commitment to advancing outcomes through trusted services and unsurpassed solutions.
“We are excited to provide Zotec with this refinancing opportunity that will enable their visionary team and technology with many more future achievements. As an RCM leader, Zotec has developed a highly differentiated data-driven approach to deliver value for healthcare organizations and physicians,” said Lee Rubenstein, Managing Director at Francisco Partners.
Ezra Perlman, Co-President at Francisco Partners, added, “We have known Scott Law and the Zotec team for 15 years and have been consistently impressed with the leading healthcare technology business they have built. We are thrilled to have the chance to support their continued success as a result of their strategic decision to refinance with us.”
With additional access to flexible and tailored financing, Zotec plans to continue its significant investments into advanced data-driven technologies that empower clients to successfully navigate the complexities of RCM and drive the best patient experience possible. By securing private financing, Zotec maintains its steadfast entrepreneurial spirit, remaining adaptable and determined to help healthcare work better for everyone. For more information about Zotec and what makes it an extraordinary healthcare partner, visit zotecpartners.com.
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Media Inquiries
Stephanie Freeman
(317) 273-3248
stephanie.freeman@zotecpartners.com
Francisco Partners
Whit Clay / Sarah Braunstein
wclay@sloanepr.com / sbraunstein@sloanepr.com
About Zotec Partners
Zotec Partners (Zotec) makes a difference by improving the business of healthcare. The company is one of the country’s largest, privately held provider of revenue cycle, patient billing and practice management solutions for more than 25,000 healthcare clinicians and their patients. Processing more than 120 million medical encounters annually, Zotec’s advanced data-driven technology, unique patient insights and industry-leading services optimize financial capabilities for healthcare organizations. Learn more about Zotec and stay up-to-date on Twitter or LinkedIn.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
