Here are five things to know about the deal.
1. OnPlanU is a student billing and payments solution for educational institutions. OnPlan Health is a patient billing and payment solution. Both are part of OnPlan Holdings.
2. As part of the deal, Flywire combined with OnPlan will provide a solution that offers secure payment processing, consumer engagement, invoicing, recurring payments, automated payment plans and other capabilities, according to a news release.
3. OnPlan Health co-founder and CEO John Talaga will lead Flywire’s healthcare segment, and OnPlan Health co-founder and chief technology officer David King will helm the company’s education and healthcare-focused product and development teams.
4. Flywire will also absorb current OnPlan Health employees.
5. Mr. Talaga said of the deal in a statement: “While we [OnPlan Health] complement their platform in several important ways, Flywire offers OnPlan tremendous scale with supportive and engaged investors, capital for growth, access to new markets, and a global customer support infrastructure. Joining Flywire gives us the opportunity to make a much greater impact for our current and future clients.”
More articles on healthcare finance:
The impact of hurricanes, the revenue loss, the tough leadership decisions: 5 questions with Schneider Regional Medical Center CFO Scott Nothnagel
Martin Luther King Jr. Community Hospital receives $15M to support physician recruitment
Massachusetts community hospital posts 32nd consecutive operating surplus in FY 17
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
