August 22, 2024 – MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), has acquired Salucro Healthcare Solutions LLC. The Tempe, Arizona-based company provides healthcare financial technology, focused on patient payments and billing.
Founded in 2004, Salucro is a market leader in providing online billing and payments offerings for healthcare providers across the United States. 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.
“U.S. Bank is a leader in providing banking and payments services to the healthcare industry, making it easier for providers and patients to focus on what’s most important to them,” said Shailesh Kotwal, vice chair of U.S. Bank Payment Services. “Salucro’s robust billing and payment platform is an ideal complement to offerings we provide throughout U.S. Bank and Elavon.”
This acquisition builds on the bank’s more than a century of service to healthcare-focused clients. U.S. Bank today provides a broad range of banking and payment services to healthcare organizations, including hospital systems, insurers, medical equipment manufacturers and medical, dental, and veterinary practices. The bank’s healthcare experts focus on delivering innovative solutions to help clients of all types and sizes meet their financial, operational, and investment goals – so they can focus on their core mission of serving patients.
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 Aug. 21, 2024. Financial terms are not disclosed.
Notes to editors
About U.S. Bancorp
Headquartered in Minneapolis, U.S. Bancorp is the parent company of U.S. Bank National Association the fifth-largest commercial bank in the United States. The company’s three major business lines serve 15 million clients globally, and its team of nearly 70,000 people invest their hearts and minds to power human potential every day. Ranked 110th in the Fortune 500, U.S. Bancorp is deeply respected for its culture and long-term stewardship and admired for its diversified business mix and product capabilities.
About Elavon
Elavon, a wholly owned subsidiary of U.S. Bank, provides scalable, end-to-end payment processing and servicing solutions to a wide range of small businesses and enterprise clients across the United States, Europe and Canada.
Contact:
John Friess
Communications Manager| Merchant Payment Services
Business Line Communications | Public Affairs & Communications
john.friess@usbank.com
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