Crestmark Announces Launch of Healthcare Financial Services Division

Division to be led by First Vice President, Division Manager Ray Zilke

TROY, Mich., (Dec. 5, 2019) — Crestmark is pleased to announce the launch of a new division offering medical accounts receivable financing to businesses in the healthcare industry. The newly created division will be led by Ray Zilke, first vice president, division manager. Zilke is based in Franklin, Tennessee, and will report to Steven Tomasello, Crestmark executive vice president.

“We are excited to launch our Healthcare Financial Services division,” said Crestmark President Mick Goik. “Businesses in the healthcare industry are generally underbanked or underserved, and our financing will help provide a solution to companies who experience a cash flow gap caused by slower payments from insurance carriers.”

“And we’re pleased to announce the promotion of Ray Zilke to lead the new division. His industry knowledge, factoring experience and proven leadership will be a driving force in helping Crestmark to extend its reach to help businesses,” continued Goik.

“Crestmark has a long history of successfully providing financing for small- to medium-sized companies that are being underserved by credit markets,” said Zilke. “Offering our accounts receivable financing expertise to the medical industry was a logical step. We’ve taken a long and thoughtful look at this niche and have crafted two platforms to serve a wide variety of companies. This new product provides synergy with what we offer our existing equipment financing clients in the healthcare industry. We have also partnered with specialized consulting firms that can improve revenue cycle performance for our clients.  Our suite of services is impressive.”

Zilke joined Crestmark in November 2005 as an account executive for the Midwest region at Crestmark’s Troy offices. In 2010, he was relocated to Tennessee, where his contributions played an integral role in reorganizing the Transportation Services division. In 2012, Zilke was promoted to first vice president, underwriting and portfolio management for the Transportation Services division. Under his leadership, write-offs were reduced, and portfolio performance improved to top tier.

Previous work experience includes GMAC Commercial Finance, where Zilke served as vice president, asset-based loan officer and special assets loan officer. Earlier in his career, he served NBD Bank as assistant vice president, field exam team leader, as well as loan officer. Zilke earned a bachelor’s degree in accounting from Western Michigan University, and a master’s degree in business from Eastern Michigan University.