CAMBRIDGE, Mass .– (COMMERCIAL THREAD) –Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-centric approach, announced that its Asset Loans Team has concluded a tailor-made financial package for Associates in Medical Records, LLC (ARM), a leading provider of medical coding, auditing and cancer registry services. The MRA, based in Wellesley, Mass., Has worked with hospitals across the country since 1986 helping with the non-clinical aspect of health care delivery.
Given the growth in the healthcare market, MRA has pursued both organic and inorganic growth strategies. In order to support these growth efforts, MRA was looking for a financial institution to support its initiatives. MRA collected references from its network and carried out an extensive interview process to find a new banking partner. The process led MRA to land on CSB due to the bank’s commitment to understanding their unique needs and the experience of their ABL team.
“After our extensive due diligence process to find the right banking partner, it became clear that Cambridge Savings Bank was the right fit,” said Charlie saponaro, CEO of Medical Record Associates. “Keith and Yvonne were the only bankers who came to meet me in person and there was an instant connection. The team worked with us in a simple and efficient way to find the right financing package to fuel our expansion pursuits. ”
CSB presented MRA with a variety of different financing options to capitalize on growth opportunities while providing the company with the flexibility to continue to execute existing strategies that have proven to be effective. The capital will also allow MRA to pursue acquisition strategies to extend its reach beyond its 100 existing hospital partners and strengthen its presence in the industry.
“It is important for us to work with each client to find creative solutions, make quick decisions and do whatever it takes to help our partners succeed” noted Yvonne Kizner, Senior Vice President of Asset Lending at CSB. “Relational banking is at the heart of our activities. After meeting Charlie and learning of MRA’s existence, we were impressed with the company’s proven history of strong financial performance and healthy growth. We look forward to seeing MRA succeed and we will be there to help them on their journey. ”
CSB’s commercial division focuses on the needs of their local communities and businesses, offering a full range of solutions from banking and business lending, commercial real estate lending, cash management and commercial services. Cambridge Savings Bank is the bank you can trust to provide personalized services to meet your business needs. To learn more about CSB’s custom solutions for business entities, please contact Keith Broyles, SVP, Head of Asset-Based Lending at [email protected]
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with over $ 5 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, our customers and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full range of personal and business banking services through a strong network of Massachusetts-based branches and through digital banking solutions for customers. business, small business and consumers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you get the most out of your banking relationship. FDIC member.
About Medical Record Associates, LLC
Associates in Medical Records, LLC has been providing income cycle and health information services to healthcare providers for over 30 years. Their commitment to long-term partnerships, their reliability and their expertise have earned them a 92% customer retention rate. MRA’s strong reputation is rooted in the results it has achieved in providing operational efficiency, service excellence and strategic advice to its clients nationwide. MRA’s track record of success is fueled by its team of seasoned experts in the fields of medical coding, auditing, compliance and the cancer registry. The benefit of partnering with MRA is the increased knowledge and resources that your organization will gain. Start your MRA partnership with a free consultation, call 833-MRA-CODE or by visiting: www.mrahis.com