A Michigan private equity firm has acquired Westlake Village healthcare finance company Key Health Medical Solutions Inc.

Grand Rapids-based Blackford Capital said late Monday that it was attracted to Key Health Medical because it is considered the largest national purchaser of medical debt. The company’s proprietary KeyMEDS software application provides unique access to actuarial and financial data outcomes for $3.5 billion medical-legal funding industry. That allows for more rigorous due diligence and more favorable collection outcomes.

Key Health Medical employs 60 people, who are expected to remain in Westlake Village, and has an asset base of $70 million. Jeff Trigilio, president and chief executive, is expected to stay with the company.

“Key Health has a strong customer base and deep industry experience, and we see tremendous opportunity for growth,” Martin Stein, Blackford Capital founder and managing director, said in a statement. “Through the broadening of relationships and creation of strategic partnerships, we have plans to grow the company’s portfolio assets to more than $500 million over the next five to seven years.”

Terms of the deal were not disclosed, but Blackford Capital said it worked with Convergent Capital and Comerica Bank to complete the transaction.