FTV Capital Portfolio Company Health Credit Services Acquired by Ally Financial
Acquisition Supports Ally’s Ongoing Growth and Diversification Strategy
CHARLOTTE, N.C./PRNewswire/ — Ally Financial Inc. today announced that it has completed the acquisition of Health Credit Services, LLC (HCS), a technology-driven, patient financing company that partners with medical providers to offer patient financing for products and procedures not covered by insurance.
“The addition of health care services financing aligns well with Ally’s strategy to expand our digital product offerings,” said Diane Morais, president of Consumer and Commercial Banking Products, Ally Bank. “In addition to being a leader in the healthcare financing segment, HCS has a customer-centric philosophy that makes it a natural fit with Ally. The powerful combination of the HCS expertise in point-of-sale financing and the fact that the technology, cultures and customer-focused mindsets at our respective companies are in alignment, provides a strong foundation for future expansion in the segment.”
HCS services medical providers in all 50 states across a variety of specialties such as cosmetic, dental, audiology, orthopedic, vision, and fertility to provide affordable financial solutions for consumers through a fully digital application process. The financing solutions create new opportunities for providers to naturally engage with patients to offer solutions for costs not covered by health insurance.
“HCS was founded on the belief that we could make a real difference in people’s lives, and this agreement is another significant step forward towards that goal,” said Health Credit Services Chief Executive Officer Hans Zandhuis. “I believe the combined power of Ally and HCS will afford our clients a broader, more diverse set of opportunities that will accelerate our ability to deliver market-leading products, services and experiences.”
HCS, based in Charlotte, has approximately 85 employees and is an indirect subsidiary of Ally Bank. The existing management team of HCS will continue to lead this business as part of the Ally organization.
About Ally Financial
For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.
About Health Credit Services
Health Credit Services, LLC (HCS) is a top 4 technology-driven, patient financing company that partners with medical providers to offer patient financing for products and procedures not covered by insurance. The company began offering point-of-sale healthcare loans in 2014, and presently services a variety of medical providers across a broad spectrum of needs, including, cosmetics, dental, audiology, orthopedic, vision and fertility. More information can be found at https://www.hcsloans.com.
SOURCE Ally Financial