424 Capital has announced it has closed a majority investment with MedHQ.
MedHQ, based in Westchester, Ill., is a national provider of human resources and financial management services to healthcare providers. Founded in 2003, the company mainly supports ambulatory surgery centers and physician practices with payroll, tax, benefits, insurance, credentialing and consulting services.
424 Capital, based in Wakefield, Ma., is a invests in lower middle market companies within technology and tech-enabled services. Founded in 2019, the firm typically invests between $10 million and $50 million in companies with between $5 million and $30 million in revenue.
Terms of the investment were not disclosed.