Flywire, an international payment and receivables solutions provider, is adding OnPlanU and OnPlan Health.
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."
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