Bank of America buys HealthLogic

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Bank of America has acquired HealthLogic Systems, a health-IT vendor based out of Norcross, Ga., that focuses on services for revenue cycle management at hospitals and other medical facilities. Additional details of the deal have not as yet been disclosed. Additionally, HealthLogic Systems develops new technologies that help healthcare providers go paperless and move towards automated, HIPAA-compliant processing. There has been a recent push by financial institutions to invest or partner with health-IT companies, such as PNC Financial Services Group based out of Pittsburgh earlier this year buying Healthcare Administration Technologies, and large banks such as Wachovia starting to offer healthcare payment processing and other related services.