OnPoint Healthcare Partners, a leading AI-enabled technology services provider based in Flower Mound, Texas, has successfully secured growth funding in a round led by Peloton Equity, a Connecticut-based private equity firm, with participation from Fort Maitland Capital.
The funding, announced by Peloton Equity, will empower OnPoint to accelerate its product development, enhance sales and marketing efforts, and fortify its lauded customer service. Founded in 2020 by Jim Boswell (CEO) and Rodney Haynes (COO), OnPoint utilizes proprietary AI-enabled technology, a global team of physicians, and change management guidance to alleviate the administrative burden faced by healthcare practitioners nationwide, ensuring more time is dedicated to patient care.
Peloton Equity, known for investing in innovative healthcare companies, sees OnPoint as a key player in addressing the growing issue of physician burnout and improving administrative efficiencies in hospitals and medical groups. Justin Yang, a partner at Peloton Equity, emphasized their commitment to partnering with companies that actively contribute to healthcare improvement.
CEO Jim Boswell expressed enthusiasm about the collaboration with Peloton, stating, “We are thrilled to be partnering with Peloton to help OnPoint capitalize on the massive and unmet need to support providers in an increasingly complicated environment. Peloton’s expertise and network will help us expand our reach while maintaining the level of quality and partnership that we pride ourselves on.”
Peloton’s operating partner, Sean Carroll, highlighted their belief in OnPoint’s capability to tackle the issue head-on. “We believe OnPoint’s proprietary AI-enabled technology, unique service approach, and operational ‘know-how’ position them to tackle this issue head-on. We are very excited to work with Jim, Rodney, and the rest of the management team to support OnPoint’s next phase of growth.”
The funding round will bring strategic additions to OnPoint’s board of directors, including Sean Carroll and Justin Yang from Peloton, along with Michael Clark, President of RAAPID.AI.
OnPoint Healthcare Partners, established in 2020, focuses on tech-enabled services to address physician burnout and optimize financial and operational efficiency for provider organizations. Their unique workforce, coupled with a proprietary cloud-based technology ecosystem, positions them at the forefront of healthcare solutions.
Peloton Equity, with a focus on growth capital investments in the healthcare industry, has invested in over 35 healthcare companies, deploying over $800 million in capital. Fort Maitland Capital, formed in 2022, is a private equity firm with a focus on healthcare investments and Central Florida-based real estate. Stephen Griggs, founder of Fort Maitland Capital, brings over 30 years of experience in the healthcare industry.
This strategic funding marks a pivotal moment for OnPoint Healthcare Partners as it gears up to revolutionize healthcare solutions, prioritizing both the well-being of healthcare providers and the quality of patient care.