“The Covered team has built a disruptive business serving the underserved with affordable rates and delivering strong portfolio performance,” he said. dominic ruggiero, Managing Director of Fortress Investment Group. “We are happy to increase our investment in the company to support its growth.”
“Covered shares our mission to bring better financial solutions to Americans in need,” he said. Ian Anderson, group president, Westlake Technology Holdings. “We are impressed with the performance to date and the long-term growth potential for non-traditional borrowers within the healthcare space and other market opportunities.”
Founded in 2020, Covered Holdings offers financial solutions that leverage the company’s proprietary credit origination and services platform with a unique focus on the needs of subprime Americans. Its patient financing product, Covered Care, helps health care providers serve patients who might otherwise have been turned down for traditional credit. Its proprietary financing platform can enroll and approve patients at all credit levels, from prime to non-prime, with affordable rates and terms. This flexibility allows healthcare providers to serve more patients without taking any risk.
Representatives from Fortress Investment Group and Westlake Financial will also join the Covered Holdings Board of Directors.
About covered care
Covered Care is a buy now, pay later financing solution for growing health care practices. Our mission is to help healthcare providers serve more patients, which means we provide the highest approval rates in the industry (up to 100%), affordable terms (APR as low as 0% for all credit levels) and flexible pricing and integration options. For more information visit CoveredCare.com.
About Fortress Investment Group
Fortress Investment Group LLC is a leading and highly diversified global investment manager. Founded in 1998, Fortress manages $53.3 billion of assets under management from December 31, 2021on behalf of more than 1,900 institutional clients and private investors worldwide through a range of credit and real estate, private equity and permanent equity investment strategies.
About Westlake Technology Holdings
Westlake Technology Holdings is an automotive and financial technology company headquartered in Los Angeles California with approximately $15 billion in assets under management. Westlake Financial (“west lake“) originates retail indirect auto installment contracts through a nationwide network of new and used auto and powersports dealers. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); wallet service via Westlake Portfolio Management (words per minute); lines of credit for floor plans are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; auto loans with shared cash flow through Westlake’s wholly owned subsidiary, Western Funding Inc., a Nevada based auto lender; indirect automotive leasing to credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); Dealer contacts and consumer direct auto loans are offered through Westlake Direct; Consumer Installment Loans are offered through LoanCenter, a wholly owned subsidiary of Westlake, www.centrodeprestamos.com; and commercial real estate loans are offered through Westlake Capital Finance.
SOURCE Covered Care