Episode Six Enters the US Healthtech Market to Drive Digital Transformation and Payments Innovation
Episode Six, the global provider of modern payment processing and banking infrastructure, today announced its expansion into the U.S. healthtech market – a sector ripe for innovation with healthcare expenditure hitting nearly $3.7 trillion in 2018, per CMS projections. Episode Six has also partnered with Nomi Health, a direct healthcare company rewiring America’s healthcare payment system, to bring payment account holders together into a unified ecosystem that allows for increased product customization.
After the successful rollout of its ledger and transaction processing technology in the banking and finance industries, Episode Six is transcending market channels to focus on enabling the transmission of payments in partnership with Nomi Health. Nomi Health will leverage Episode Six’s technology to enhance the payment process in the healthcare industry.
“Episode Six has proved its technology in the banking industry, and we’re looking forward to partnering with them to build out our payments products,” said Boe Hartman, co-founder and CTO of Nomi Health. “Technology plays a critical role in how payments will evolve in our space, and Episode Six’s adaptability to shifting market conditions will serve as the perfect foundation for us as we prepare for the future.”
Episode Six’s technology provides a comprehensive set of more than 550 APIs to facilitate a higher level of innovation and customization, allowing its clients to build consumer and business payments and financial products to meet their customers’ evolving needs. In healthcare, this can include many-to-many core account structure and the real-time transfer of value across multiple asset classes.
“Recent global and economic conditions have accelerated many areas within the already-emerging healthtech sector, but the need for payments innovation remains,” said John Mitchell, CEO of Episode Six. “We see massive opportunity to assist companies in this space, and we look forward to providing the foundational technology that Nomi Health and others have been looking for in order to set them apart from their competitors.”
This expansion and partnership come shortly after Episode Six secured an additional $30 million of investment, nine months after the company secured $7 million of its Series A funding. This funding will be used to accelerate continued global growth across all regions and key financial markets including financial services, fintech and healthtech. Currently, 3 million consumers and businesses use products built using Episode Six technology. For more information, visit www.episodesix.com.