Muncie-based Ontario Systems, a software provider specializing in revenue collections, has acquired Pairity, a New York technology company that uses artificial intelligence to improve accounts receivable management.
Financial terms of the deal are not being disclosed.
Ontario Systems says more than 600 hospital networks use its software to streamline the billing process. The technology is also used by government agencies.
The Indiana company says Pairity’s advanced AI technology extracts patterns, allowing collectors to adapt their contact strategies to retrieve payments and improve collection results.
“Pairity shares Ontario’s commitment to creating intelligent workflow solutions that streamline the collections process and accelerate payments,” said Ontario Systems CEO Tim O’Brien. “Pairity’s technology strengthens our ability to drive value for our clients and provides another foundation from which we can continue to innovate.”
In May, Ontario Systems acquired SwervePay, an Illinois-based electronic payment processor, to boost its efforts to evolve into a Software-as-a-Service platform.