U.S. Bank, lead bank of U.S. Bancorp, announced on August 22 that it has acquired Salucro Healthcare Solutions LLC, a provider of healthcare financial technology. This acquisition builds on U.S. Bank’s more than a century of service to healthcare-focused clients.
Founded in 2004 and based in Tempe, Arizona, Salucro is a market leader in providing online billing and payments offerings for healthcare providers across the United States.
With more than 70,000 employees and $680 billion in assets as of June 30, 2024, U.S. Bancorp is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management.
Salucro had previously been a partner of Elavon, the merchant acquiring unit within U.S. Bank. U.S. Bank initially invested in Salucro in 2022, and Salucro’s platform is sold through Elavon as MedEpay.
The Salucro team members are now employees of U.S. Bank, and will integrate into Elavon, one of the largest payments processing companies globally. The acquisition closed on August 21, 2024. Financial terms are not disclosed.
According to data captured in the LevinPro HC database, this acquisition represents the 157th eHealth transaction of the year, and the 22nd in the RCM specialty. There were 55 RCM deals announced during 2023, and 68 announced during 2022.
