Ontario Systems, which is backed by New Mountain Capital, has acquired SwervePay, a provider of electronic payment solutions in the ARM and healthcare industries. No financial terms were disclosed.
MUNCIE, Ind. (May 19, 2020) – Ontario Systems, a leading provider of enterprise software that automates complex workflows and accelerates revenue recovery for clients in the healthcare, government, and accounts receivable management (ARM) markets, announced the acquisition of SwervePay®, an innovative payment facilitator in the ARM and healthcare industries. The acquisition of SwervePay offers Ontario Systems customers a simplified consumer payment engagement platform that helps drive revenue, reduce operational costs, and improve compliance.
Electronic payment processing is becoming an increasingly critical function for Ontario Systems customers. SwervePay consolidates the complicated multivendor environment, simplifies the underwriting and onboarding process, and shortens the funding cycle. With the new platform, Ontario Systems can unify payment processing for the nearly $35 billion in payments managed by the company’s software each year.
“The market is ripe for innovation, and we have an ongoing focus on evolving into a SaaS platform to help our 1,200 clients accelerate revenue and decrease operating costs through frictionless payments, efficient processes, and increased business intelligence,” said Tim O’Brien, Ontario Systems CEO. “The acquisition of SwervePay is our first step toward aggressively transforming legacy on-premise software solutions into an end-to-end SaaS solution to automate revenue recovery processes and drive consumer payments. Looking ahead, we’re positioned to develop new products with greater speed, gain network insights, and further connect to the evolving ecosystem around us.”
SwervePay’s consumer-friendly electronic payment solution makes payments easy and requires no app download or portal sign-in. Key capabilities include text-to-pay, same-day settlement options for ACH and credit cards, and account balance automated messages.
“The most important part of the accounts receivable operation is completing the final step—capturing and processing the payment— as smoothly as possible,” said Jaeme Adams, Vice President, Payments at Ontario Systems and former SwervePay CEO. “Together, Ontario Systems and SwervePay will remove an unnecessary point of complexity in the receivables process by unifying the workflow, consumer communications, and revenue capturing tools into one streamlined platform.”
This announcement comes on the heels of Ontario Systems’ acquisition by New Mountain Capital and the launch of Artiva Magnify™, a flagship product, in 2019. For more information about Ontario Systems, its offerings, and the markets it serves, please visit www.ontariosystems.com.
About Ontario Systems
Established in 1980, Ontario Systems is a leading provider of enterprise software designed to automate complex workflows and accelerate revenue for clients in the healthcare industry as well as federal, state, and local governments and the accounts receivable management (ARM) market. Headquartered in Muncie, Ind., with additional offices in Vancouver, Wash., and Albuquerque, N.M., Ontario Systems offers a full portfolio of end-to-end accounts receivable management solutions including the Artiva® family of products, RevQ®, Ontario Omni®, and SwervePay®, a single-source payment engagement platform. Ontario Systems serves thousands of customers processing nearly $35 billion in patient, constituent, and consumer payments each year.
To learn more about Ontario Systems, visit www.ontariosystems.com or www.justicesystems.com.