U.S. Bank has announced the acquisition of Salucro Healthcare Solutions, a well-established financial technology firm specializing in patient payments and billing. Founded 20 years ago in Arizona, Salucro has been a key partner to Elavon, U.S. Bank’s merchant acquiring unit. U.S. Bank initially invested in Salucro in 2022, and the acquisition marks a strategic expansion of its healthcare financial services.
Shailesh Kotwal, Vice Chair of U.S. Bank Payment Services, highlighted the synergy between the two companies: “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.”
The acquisition reflects U.S. Bank’s ongoing commitment to enhancing its healthcare client services, which include partnerships with hospital systems, insurers, and various medical practices. Salucro’s team will now integrate with Elavon, further strengthening the bank’s position in the payments processing sector.
In a interview with PYMNTS, Rebecca Truscott, Salucro’s Senior Vice President of Strategy and Business Development, discussed the evolving needs in the telehealth sector. She noted that the pandemic accelerated the demand for advanced telehealth payment solutions. “Telehealth companies have moved beyond basic payment integrations to incorporate more comprehensive payment functionalities within broader patient payment and billing ecosystems,” Truscott explained.
Truscott emphasized the desire for seamless payment experiences, akin to those in eCommerce, both from patients and healthcare providers. She pointed out that providers are increasingly seeking healthcare payment solutions that offer simplicity and flexibility, similar to the consumer experience found on platforms like Amazon.
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