H-Card now goes by the name HAP-X that provides software development and project management services in the areas of transaction and payment processing for the healthcare industry.
However the terms of the acquisition have not been disclosed yet. The deal will help GHX gain a payment platform and extend its financial product portfolio. It will offer multiple payment methods, transfer, and an exchange network model that will provide suppliers and clients financial and operational solutions, says the company.
The joint offering, hopes the company, will complete its health care solution, introducing demand-to-pay portfolio of software and services. It also aims at reducing healthcare costs for the supplier and provider community.
Bruce Johnson, CEO and President, GHX, said:
“Hap-X is a great addition to the GHX family. This is an acquisition our customers have been asking us to complete in order to help them solve the payment management challenges that are adding costs to healthcare.
“With this acquisition, we are creating a payment exchange available in healthcare’s largest business process network and offering payment method choice so that the trading partners can decide what is most effective for their relationship. Outside of GHX there is no solution that encompasses multiple payment methods, remittance, and a network model. This is great for our customers,” Johnson added.
HAP-X, which was founded in 2005 competed the services of companies like Internet Payment Exchange, Softgate Systems and Viamericas before the acquisition.
Mike Carmody, president and CEO at Hap-X, said:
“We are very excited about being part of GHX and seeing the larger and more strategic role that payment management will play in driving down costs in healthcare,” added. “The acquisition by GHX allows Hap-X customers, both providers and suppliers, to do business with a partner who can help solve even more of their supply chain and payment management problems, while improving their total cost and operational performance. Today’s announcement is really a win for healthcare.”
The deal comes second in GHX’s acquisition timeline after Vendormate purchase in November, 2014. It was founded in 2000 and since, claims to have established a community of over 4,000 hospitals and 18,000 provider facilities.
