Fifth Third to acquire Big Data Healthcare, terms not disclosed

Fifth Third Bancorp announced a definitive agreement to acquire Big Data Healthcare, a technology solutions provider for healthcare payments and remittance. This transaction adds national healthcare revenue cycle capabilities, addressing the complex and complicated needs of clients, while building on Fifth Third’s legacy of digital innovation and focus on the healthcare sector. "The healthcare industry is one of the largest and fastest growing segments of the U.S. economy. It’s the first and the largest of our industry focus areas," said Kevin Lavender, head of commercial banking at Fifth Third Bank. "Together, we can deliver a specialized client experience driven by innovation." The acquisition, which will be made by an indirect wholly-owned subsidiary of Fifth Third, is subject to customary closing conditions. Financial terms of the transaction have not been disclosed.