M&A Deal Summary

Bank of America Acquires AxiaMed

On April 2, 2021, Bank of America acquired information technology company AxiaMed from Health Enterprise Partners

Acquisition Highlights
  • This is Bank of America’s 2nd transaction in the Information Technology sector.
  • This is Bank of America’s 11th transaction in the United States.
  • This is Bank of America’s 3rd transaction in California.

M&A Deal Summary

Date 2021-04-02
Target AxiaMed
Sector Information Technology
Buyer(s) Bank of America
Sellers(s) Health Enterprise Partners
Deal Type Add-on Acquisition

Target

AxiaMed

Santa Barbara, California, United States
AxiaMed is a healthcare financial technology company specializing in payment integration and security. AxiaMed’s integrated payments technology platform, Payment Fusion, improves the financial performance of healthcare providers through integration with various revenue cycle, practice management, EHRs, and other software systems, enhancing interoperability and payment options across the entire ecosystem of healthcare payments between patients, providers and payers. AxiaMed is based in Santa Barbara, California.

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Buyer(S) 1

Buyer

Bank of America

Charlotte, North Carolina, United States

Category Company
Founded 1784
Sector Financial Services
Employees213,000
Revenue 101.9B USD (2024)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 12 of 12
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 7 of 7
State: California M&A 3 of 3
Country: United States M&A 11 of 11
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-18 Bank of America - Alternative Investment Feeder Fund Operations

Charlotte, North Carolina, United States

Bank of America Corp. - Alternative Investment Feeder Fund Operations business provides sponsorship, administration and advisory services to alternative investment feeder funds (AI feeder funds).

Sell -

Seller(S) 1

SELLER
DESCRIPTION

Health Enterprise Partners is a private equity firm focused on the healthcare technology, tech-enabled services, and healthcare services. Specific areas of interest include behavioral health IT, consumer engagement platforms, data security, genomics data analytics, payor services, tech-enabled substance abuse management, social determinants of health, and virtual care. The Firm generally pursues growth equity investments and small buy-and-builds. Health Enterprise Partners was formed in 2007 and is headquartered in New York City.


DEAL STATS #
Overall 16 of 24
Sector: Information Technology M&A 5 of 7
Type: Add-on Acquisition M&A Deals 13 of 20
State: California M&A 1 of 1
Country: United States M&A 16 of 24
Year: 2021 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-29 Aware Recovery Care

Wallingford, Connecticut, United States

Aware Recovery Care engages in the in-home mental health and substance use disorder treatment industry, representing true innovation. Supported by a specially-trained team of addiction professionals, Aware offers a best-in-class in-home addiction treatment program backed by both logic and data. Aware Recovery Care is based in Wallingford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 Twistle

Albuquerque, New Mexico, United States

Twistle is a healthcare technology company that helps organizations deliver personalized care to patients in their homes by automating everything from routine communication to information gathering and education activities, saving time for care teams while improving outcomes. Twistle was founded in 2011 and is based in Albuquerque, New Mexico.

Sell -