Banyan Software, a Toronto-headquartered acquirer and long-term operator of software businesses, has acquired HMM Germany, a Moers-based eHealth technology provider connecting health insurers, medical device manufacturers and healthcare providers.
The acquisition will see HMM continue operating under its existing leadership team, with Banyan providing long-term capital and operational support to expand the platform, invest in AI capabilities and support future growth.
HMM provides digital infrastructure through its X3.Net platform, enabling health insurers, medical device companies and care providers to manage processes including cost estimates, approvals, billing and reimbursements for medical aids in real time.
The company employs more than 200 people and works with German health insurers, device manufacturers and thousands of healthcare providers. Following the acquisition, HMM’s team will remain based in Moers, with Banyan focusing investment on platform development, automation and customer support.
Banyan Software describes itself as a long-term owner of software businesses serving specialised industries. The company follows a buy, grow and hold-for-life model supported by permanent capital, operating more than 100 portfolio companies across North and South America, Europe and Asia-Pacific.
HMM founder Istok Kespret said, “We are proud of the platform we have built and the trust our customers have placed in us over the years. We wanted an owner who would commit to the platform for the long term, invest in it, and stand behind the customer relationships we have spent two decades building. We found that in Banyan.
“With their support we will accelerate what we have built — bringing AI into our operations, enhancing and expanding the platform, and continuing to serve the payors and providers who have depended on us every day for two decades,” he said.
Banyan Software operating partner Kay-Ingo Greve added, “HMM’s team has been earning the trust of the insurers and providers they serve since 2006 — that’s not something we take lightly. The team stays in Moers, the relationships stay intact, and we’re backing that stability with real investment: in the leading eHealth platform, in responsible automation and in the people who make this business work for customers every day.”
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