Passport Health Communications has refinanced $11 million in debt to fuel its long-term strategic growth efforts, the company announced.
Fifth Third Bank, which completed the lending deal, allowed the healthcare information technology provider to replace outstanding corporate debt with senior debt, a more flexible structure that will let Passport focus on its growth. The Franklin, Tenn.-based company plans to explore acquisition opportunities as well as internal development.
Currently, Passport has 180 employees in several offices across the country. Its revenue cycle management products are used by 1,600 hospitals and 2,200 physician clinics and outpatient centers.