Frontier rising.

• Author: Mildenberg, David
• Position: NC TREND: Charlotte Region - Frontier Capital invests in AccessOne of Fort Mill, S.C.

Both of Charlotte private-equity investor Andrew Lindner's brothers are doctors who've complained about not getting paid adequately or fast enough. So it's no wonder that Lindner pounced on the chance to invest in a doctor-initiated company that helps hospitals and providers get compensated more quickly.

Lindner is co-founder of Frontier Capital, which has invested in about 40 companies since its inception in 1999, mostly software and business-services groups such as Charlotte-based data-center operator Peak 10. Frontier has raised about $800 million in four separate funds, including a $390 million addition in early 2015. About 60% of that fund is tapped, with the latest investment being Fort Mill, S.C.-based AccessOne, which aligns with health care providers to administer payment plans for patients with debts averaging $1,500.

Much of health care insurance is in flux as Congress dukes out Obamacare, "but I'm pretty sure that for my family and others, we'll be paying a lot more for health care than we have in the past," says Mark Spinner, AccessOne's CEO. Investment in new technology is leading to higher costs, and pressure from all sides is shifting more of the burden to consumers, he says.

While it started as a regional firm, Frontier now studies companies...