Finance provider eCapital has acquired CNH Finance, a Connecticut-based specialty finance company working in healthcare, the companies announced Monday (May 2).
The deal will help further eCapital’s long-term growth strategy of bolstering its specialty finance business by acquiring businesses that fit its growth model, according to the press release. Additionally, eCapital said it will make this a “seamless” transition for clients, staff and partners.
“The addition of CNH Finance complements our current offering and supports our growth strategy as we continue to advance our position in the finance industry,” said Marius Silvasan, CEO of eCapital. “CNH Finance has deep expertise and a talented team that will be key as we expand into the healthcare industry.”
This is eCapital’s 12th alternative finance sector acquisition in four years, according to the release.
“We have built a successful, specialized lending company over the last 12 years,” said Tim Peters, CEO of CNH Finance. “Now is the right time in our evolution to become part of a larger organization with access to the capital, technology and reach we need to scale.
“We look forward to being part of the eCapital family and expanding our opportunities to serve the healthcare industry.”
In other healthcare-related news, HashCash Consultants, a blockchain development firm, will be working on a new non-fungible token (NFT) project involving the healthcare industry and peoples’ health records.
Read more: Blockchain Firm HashCash Joins Healthcare-Focused NFT Project
This project will involve individuals volunteering to have their health data made into NFTs, which they can potentially share with healthcare services to participate in studies or research.
The company said when an individual does things like ordering a DNA testing kit or getting a genetics-based nutrition plan, they share data and history with companies who can sometimes then use it for their own purposes. The NFT project aims to track that data, allowing users to see who is using it without their permission.
HashCash said it is partnering with a U.K. company on the idea, though the company wasn’t named.