Metavante Corporation, the financial technology subsidiary ofMarshall & Ilsley Corporation, has completed its acquisition,initially announced in November, of AdminiSource Corp. Providinghealthcare payment distribution services, AdminiSource will becomea Metavante subsidiary and continue to operate under its currentname.

This is Metavante's third acquisition that expands its solutionsfocused on the consumer-directed healthcare payments area. Thisexpansion began with the 2003 acquisition of Printing for Systems(PSI), a provider of identification cards to the healthcareinsurance industry, and continued with the 2005 acquisition of MBIBenefits, a benefits cards and electronic payment services companyfor employee benefit and consumer-directed healthcare accounts.

Metavante's healthcare payments division offers aconsumer-directed benefits payments platform plus employee benefitscard that electronically access flexible spending accounts (FSA),health reimbursement arrangements (HRA), health savings accounts(HSA), transit/parking accounts, and dependent care accounts.Metavante supplies medical identification cards, combinationeligibility/payment cards, and the ability to access multiplebenefits accounts from a single card. It also furnishes acomprehensive FSA/HSA product that delivers all the technology afinancial institution, health insurance company, third-partyadministrator, or commercial business needs in order to handlethese accounts.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.