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AxiaMed Announces $12.4 Million Capital Investment Led By Health Enterprise Partners

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Strategic Investment to Accelerate Growth Driven by Demand for
Greater Patient Payment Convenience and Security

AxiaMed,
an innovative healthcare payments technology company, announced today
that it has raised $12.4 million in funding to accelerate its growth in
the burgeoning market for secure, flexible patient payments. Health
Enterprise Partners
(HEP) led the round with participation by a
number of AxiaMed's existing investors, including Nashville Capital
Network.

Since its founding in 2015, AxiaMed has experienced triple-digit annual
growth driven by the dramatic increase in patient financial
responsibility for healthcare expenses. Industry analysts predict that
patient payments will exceed 30% of total healthcare costs in 2019 and
rise to nearly 50% within 5 years.

"We are thrilled to partner with Health Enterprise Partners and its
extensive network of healthcare industry partners. This investment
further validates the significance of AxiaMed's solutions and the
necessity for healthcare organizations and software solutions to provide
secure patient payment technology. We look forward to significant and
increased execution with the additional resources," said Randal Clark,
CEO and co-founder, AxiaMed.

AxiaMed's Payment Fusion platform has become the healthcare industry's
preferred SaaS-based payment platform and is used by hundreds of
hospitals and thousands of ambulatory providers. Payment Fusion enables
healthcare software vendors to integrate secure payment technology into
their applications, lessening the risks of payment data breaches, and
reducing compliance burdens while improving the financial performance of
providers by expanding payment options available to patients.

"While many other healthcare payment companies have focused on point
solutions, AxiaMed's innovative payment platform enables and enhances
secure patient payment solutions within various healthcare software
solutions," said Ezra Mehlman, Principal at Health Enterprise Partners.
"AxiaMed's impressive growth and strong customer demand positions the
company as a market leader, particularly in the healthcare payment and
security categories of revenue cycle technology."

"Health Enterprise Partners' deep experience in the healthcare
marketplace will help us accelerate the expansion of our Payment Fusion
platform with healthcare organizations and software partners, greatly
improving the payment experience for both providers and payers," said
Kevin Kidd, co-founder and Chief Business Development Officer, AxiaMed.

Proceeds from this funding round will enable AxiaMed to increase its
product development and go-to-market strategy, strengthen its core team,
and solidify its market position. Within the past year, AxiaMed became
one of the first healthcare-focused PCI-validated Point-to-Point
Encryption (vP2PE) solution providers. This security offering enables
AxiaMed's software partners and healthcare organizations to enhance its
security infrastructure and reduce PCI compliance requirements and
attendant costs.

About AxiaMed

AxiaMed is a healthcare financial technology company specializing in
payment integration and security. AxiaMed's integrated payments
technology platform, Payment Fusion, improves the financial performance
of healthcare providers through integration with various revenue cycle,
practice management, EHRs and other software systems, enhancing
interoperability and payment options across the entire ecosystem of
healthcare payments between patients, providers and payers.

AxiaMed is headquartered in Santa Barbara, CA with executive offices in
Nashville, TN.

For more information, visit https://www.axiamed.com/.

About Health Enterprise Partners
Health Enterprise Partners
invests primarily in privately held, middle market companies in health
care services and health care information technology. Central to HEP's
strategy is its unique and extensive hospital system and health plan
network, 36 members of which are investors in HEP's funds. HEP seeks to
invest in companies that improve the quality of the patient experience,
expand access, and reduce the cost of health care.

For more information, please visit http://www.hepfund.com.

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