Cloud-based healthcare supply chain management company Global Healthcare Exchange has acquired Omaha, Nebraska-based H-Card (Hap-X), an automated payment management outfit. The acquisition, GHX's second in 19 months, expands the company's financial products portfolio, while Hap-X will operate as a wholly owned subsidiary. Financial terms of the acquisition were not disclosed.
The combined product offering gives GHX the ability to extend its healthcare solutions into a complete demand-to-pay portfolio of software and services. The Hap-X payment exchange is expected to enable providers and suppliers to select the best value payment type per trading partner through a multi-mode payment platform that delivers mutual benefit to each party. That benefit includes aligning payment, remittance and reconciliation information together to create operational efficiencies for both providers and suppliers.
There are more than 4,000 hospitals and 18,000 provider facilities in the GHX community. The company anticipates the Hap-X payment management capabilities will complement and enhance GHX's demand-to-pay and order-to-cash solutions.
"Hap-X is a great addition to the GHX family," said Bruce Johnson, CEO and president of GHX, in a statement. "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."