Commonwealth Bank of Australia has acquired health technology provider Whitecoat, furthering its ambition to create an end-to-end digital payment, claiming, and directory solution for the healthcare industry.
Whitecoat operates Australia’s largest digital healthcare services directory allowing patients to locate and book appointments with over 300,000 medical practitioners. It also operates a digital health payment and claims platform with both terminal and in-app mobile claims processing capability for Medicare, private health insurance, and government schemes.
The acquisition will see Whitecoat brought into CBA’s Business Bank, supporting the bank's focus on healthcare as a growth sector and a strategic priority, says CBA Group executive, business banking, Mike Vacy-Lyle.
“By integrating Whitecoat into CBA, we are seeking to provide the best integrated digital solution in the market," he says. "It will see us differentiate our customer proposition in the healthcare sector and is well aligned to our aspiration to grow in business banking.”