The amount of the deal was not disclosed.
The acquisition is designed to enable SwervePay to provide healthcare consumers with additional information, tools and transparency needed to manage their financial responsibility.
Founded by Piyush Kedia, CEO, accelerated within Blueprint Health, a healthcare IT accelerator in New York, and most recently based at Matter in Chicago, StatPayMD (formerly Symbiosis Health) uses a combination of technology, services and direct partnerships with insurance companies to access relevant and accurate eligibility data from every health plan. The analytics engine blends that data with providers’ negotiated contracts and claims history to create a personalized cost estimate for each patient.
Launched in 2010 by Jaeme Adams, CEO, SwervePay provides a cloud-based platform that allows providers and health systems to engage patients with a text message that lets them securely submit payments, estimate care costs and confirm appointments.
In February 2016, the company completed a $10m Series B funding round, led by Chicago-based Garland Capital Group.