Fifth Third Bank completed the acquisition of Big Data, a technology solutions provider for healthcare payments and remittance. The transaction adds national healthcare revenue cycle capabilities to Fifth Third’s offerings.
“Fifth Third has a long history of expertise in the healthcare banking space and is deeply committed to bringing our solutions to healthcare clients,” Kevin Lavender, head of commercial banking at Fifth Third Bank, said. “This acquisition allows Fifth Third and Big Data Healthcare to collaborate, scale and continue to accelerate healthcare technology solutions that benefit current and future clients.”
Big Data Healthcare provides intelligent data automation. Its core solution, FUSE, is a bank-neutral online portal that automates remittance reconciliation back to deposits and provides visibility on data and file management while working in tandem with existing systems.
“We value the relationships and experience of the Big Data Healthcare team,” Bridgit Chayt, head of wholesale payments at Fifth Third Bank, said. “We’re committed to helping solve for the unique challenges our clients face from manual processes to regulatory complexities.”
“We’re impressed with Fifth Third’s commitment to maintain and grow existing business while remaining an agile and neutral partner,” David Plotkowski, CEO of Big Data Healthcare, said. “They truly are committed to keeping the client at the center and we look forward to mutual success in the future.”
The acquisition was made by an indirect wholly-owned subsidiary of Fifth Third Bank and financial terms were not disclosed.
