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Canopy Acquires CareGain

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One health account banking technology company is scooping up another health account technology business.

Canopy Financial Inc., San Francisco, has acquired CareGain Inc., Plainsboro, N.J., from Fiserv Inc., Brookfield, Wis.

Canopy plans to roll the CareGain Asset Management Platform system into its own Canopy HealthDirect system.

The combined company will provide health account technology products and services for 50 large health plans and financial institutions with about 1 million individual health accounts, Canopy says.

The 1 million health accounts generate about 8 million health account claims per year, Canopy estimates.

Canopy notes that Fiserv will continue to provide health care banking systems for its financial institution clients.