Bank of America has acquired Axia Technologies Inc., a health-care payment and technology company that facilitates secure patient payments, according to a press release.
The acquisition, which will expand Bank of America's payment offerings for health-care clients, is part of an initiative to integrate merchant services onto its proprietary platform. Terms of the acquisition were not disclosed.
"We have a shared vision of providing clients with the best technology to meet their payment needs," Mark Monaco, head of enterprise payments of Bank of America, said in the release. "Working together, we can leverage our joint expertise and capabilities to deliver a comprehensive range of payment and settlement solutions to our healthcare clients and their patients,"
Established in 2015, AxiaMed provides a gateway and terminal software solution that helps the financial performance of healthcare providers by expanding the payment options available to patients and streamlining administrative workflows.
"AxiaMed is excited to join Bank of America," Randal Clark, founder, president and CEO of AxiaMed, said in the release. "AxiaMed strives to ensure that our industry-leading payments platform can be leveraged by our partners and their clients, many of whom currently use numerous products and services of Bank of America, to provide a seamless and secure end-to-end patient payment experience."