U.S. Bancorp’s lead bank U.S. Bank has acquired a healthcare payments platform Salucro Healthcare Solutions for an undisclosed sum.
Established in 2004, the US-based company specialises in healthcare financial technology with a focus on patient payments and billing. It offers online billing and payment solutions for healthcare providers across the US.
Before the acquisition, Salucro Healthcare Solutions had been a partner of U.S. Bank’s merchant acquiring unit Elavon.
U.S. Bank initially invested in Salucro Healthcare Solutions in 2022, with the latter’s platform being marketed through Elavon under the brand name MedEpay.
According to U.S. Bank, its acquisition of the healthcare payments platform enhances the bank’s long-standing commitment to healthcare-focused clients, a service area in which the bank has over a century of experience.
Currently, U.S. Bank offers a wide range of banking and payment services to healthcare organisations, including hospital systems, insurers, medical equipment manufacturers, and medical, dental, and veterinary practices.
The bank’s healthcare specialists offer new solutions to help clients of all sizes achieve their financial, operational, and investment objectives, said the bank.
This approach enables clients to focus on their primary mission of patient care.
U.S. Bank payment services vice chair Shailesh Kotwal said: “U.S. Bank is a leader in providing banking and payments services to the healthcare industry, making it easier for providers and patients to focus on what’s most important to them.
“Salucro’s robust billing and payment platform is an ideal complement to offerings we provide throughout U.S. Bank and Elavon.”
Following the acquisition, Salucro Healthcare Solutions’ team members have become employees of U.S. Bank and will be integrated into Elavon.
Last year, Elavon introduced the new version of Talech software that supports small business owners to run their businesses effectively.
Dubbed Talech Terminal, the new-generation Talech software aimed at eliminating the need for large upfront investment by small business owners to purchase a new payment system.
