Claims record retrieval company Ontellus received an investment from New York- and London-based private equity firm Aquiline Capital Partners to continue its expansion into the tech-enabled medical, billing and claims-related records procurement market.
Aquiline and Houston-based CapStreet Group LLC agreed to provide capital to Ontellus for growth purposes and acquired a majority ownership stake in the company. Financial terms of the transaction were not disclosed.
Houston-based Ontellus works with insurers, self-insureds and law firms to accelerate claims resolution, and has an office in California superficially specializing in workers compensation claims.
The company has about 500 employees nationally.
NEW YORKNew York-based private equity firm Aquiline Capital Partners L.L.C. is making another investment in the insurance industry, funding a new Lloyd's of London underwriting agency with some industry veterans at the helm.