DRB Financial Solutions Acquires Echelon Group
DELRAY BEACH, Fla., March 9, 2017 /PRNewswire/ -- DRB Financial Solutions, LLC, ("DRB") has acquired Echelon Group ("Echelon") as part of its strategic growth plan in becoming the preeminent provider of liquidity solutions to SMBs and select consumer segments.
Echelon with its MediLiens Advance and MediLiens Turbo products offers innovative and superior liquidity solutions for the medical industry including medical professionals, hospitals, and surgery centers. Echelon was launched just as traditional sources of liquidity were withdrawing from this market. Within five years, Echelon has become a leading source of liquidity for medical receivables and medical liens.
Orlando Zayas, Chief Executive Officer of DRB stated, "We are excited to have Echelon join us. This acquisition is a natural fit and another step forward as we continue to add capabilities and great talent to our growing family of innovative companies. We welcome the entire Echelon team."
Robert Rigal, CEO of Echelon and now Managing Director at DRB, added, "This acquisition is truly synergistic for Echelon and DRB and supports the strategic plan of both companies to be a dominant presence across our business lines. The Echelon team has created a premier medical receivables liquidity platform in a short amount of time and in a very competitive landscape. Now, as part of DRB with even greater resources, we can grow and innovate even faster than before."
Mr. Zayas also noted, "Echelon is well managed and we anticipate a smooth transition in the coming months. Moreover, along with the acquisition, Echelon and DRB have added a new $100,000,000 facility from Monroe Capital to support the growth of Echelon. We see truly good things ahead."
About Echelon: Echelon Medical Capital (formerly Echelon Group a d/b/a of MedLien Manager, LLC) serves medical practices across the USA with MediLiens Advance and MediLiens Turbo products. Echelon has become the industry leader with its sophisticated funding platform that has created several innovative financing products for both litigation and insurance related medical receivables. More information is available at www.Echelon.us.
About DRB Financial Solutions, LLC: DRB is a leading provider of liquidity solutions for SMBs and select consumer segments. Consumer liquidity solutions are offered through DRB Capital (structured settlement and annuity cash flows) and USClaims (advances for pending personal injury claims). DRB serves SMBs through CRG Financial (bankruptcy claims), Producer Advance (commission advances) and, now, Echelon Medical Capital (medical receivables). To learn more, visit www.DRBFinancial.com.
DRB Financial – The Liquidity People.
Contact: Mark Mruz firstname.lastname@example.org / 561-982-3486
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/drb-financial-solutions-acquires-echelon-group-300421091.html
SOURCE DRB Financial Solutions, LLC