Online healthcare marketplace MDsave announced its first institutional investment of $12 million from MTS Health Investors, the New York-based private equity firm.

The company provides discounted access to quality healthcare providers, helping cash-paying consumers reduce out-of-pocket expenses for common medical treatments. In its first three years, MDsave has become the preferred choice for accessing healthcare savings, regardless of an individual’s insurance status.

“MDsave is the first national healthcare service brand focused on lowering healthcare costs for the consumer,” said Paul Ketchel, MDsave CEO and Co-Founder. “We equip patients and providers with a dynamic and user-friendly technology platform to connect when a medical procedure is required.”

The fresh capital will be used to bolster MDsave’s platform nationally and internationally, providing thousands of consumers with affordable access to quality medical treatments. Today, the company serves over 50 US markets, and the service will be available to all US consumers in the coming months. Its technology connects patients with negotiated savings of up to 60% on bundled healthcare procedures like surgeries, imaging, office visits and more. Consumers pay for services upfront, thereby streamlining efficiencies and allowing providers to reduce costs. Healthcare providers on their end save on third party collections and medical billing when using MDsave platform.