Claims record firm receives PE investment

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.