Ally Financial completes acquisition of HCS

Ally Financial announced it has completed the acquisition of Health Credit Services (HCS), a technology-driven, patient financing company that partners with medical providers to offer patient financing for products and procedures not covered by insurance.

“The addition of health care services financing aligns well with Ally’s strategy to expand our digital product offerings. In addition to being a leader in the healthcare financing segment, HCS has a customer-centric philosophy that makes it a natural fit with Ally. The powerful combination of the HCS expertise in point-of-sale financing and the fact that the technology, cultures and customer-focused mindsets at our respective companies are in alignment, provides a strong foundation for future expansion in the segment.” – Diane Morais, president of Consumer and Commercial Banking Products, Ally Bank.

HCS services medical providers in all 50 states across a variety of specialties such as cosmetic, dental, audiology, orthopedic, vision, and fertility to provide affordable financial solutions for consumers through a fully digital application process. The financing solutions create new opportunities for providers to naturally engage with patients to offer solutions for costs not covered by health insurance.

HCS, based in Charlotte, has approximately 85 employees and is an indirect subsidiary of Ally Bank. The existing management team of HCS will continue to lead this business as part of the Ally organization.