SAN DIEGO, Aug. 10, 2021 /PRNewswire/ — HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced its investment in Myndshft, a leading provider of real-time medical benefits check and electronic prior authorization technology. Terms of the investment were not disclosed.
Based in Mesa, Arizona, Myndshft develops real-time medical benefit check (RTMBC) and electronic prior authorization (ePA) software solutions for payers and providers. In line with the company’s mission to free up people to focus on the work that matters—providing care to patients—Myndshft’s end-to-end solution addresses the complexities and inefficiencies around providing accurate and detailed benefits coverage and out-of-pocket costs at the point-of-care to patients. Powered by its proprietary AI and Blockchain platform, the company’s platform enables providers to improve transparency and accelerate time to care while reducing manual tasks for payors and providers by as much as 90%.
"Enhancing access to care is a key investment theme for us at HCAP," commented Hope Mago, Partner at HCAP Partners. "We have been impressed by Myndshft’s approach of leveraging artificial intelligence and blockchain technology to address a significant pain point in the healthcare space. We look forward to working with the Myndshft team during this time of significant company growth."
"HCAP’s investment will support our continued market expansion and product development efforts," said Ron Wince, Founder and CEO of Myndshft. "As a part of our efforts, we will be aggressively increasing our headcount, and HCAP Partner’s Gainful Jobs Approach™️ framework will be invaluable in helping to drive the company’s workplace practices and attracting leading sales, product, and engineering talent."
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $2 million to $15 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 50 companies since its founding and, through ongoing, active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund eight years running and, through its Gainful Jobs Approach™, works to positively impact underserved businesses, their employees, and their communities through active portfolio engagement. For more information, please visit www.hcapllc.com.
About Myndshft Technologies
Myndshft’s software-as-a-service automates and simplifies time-consuming healthcare administrative tasks associated with prior authorization, eligibility and benefits verification, and patient financial responsibility, freeing providers and payers to concentrate more fully on patient care. Myndshft was founded in 2018, and works with leading providers, payers, and health information exchanges. For more information, visit myndshft.com.
SOURCE HCAP Partners