Banyan Software announced that it acquired HMM Germany, a B2B eHealth platform that helps health insurers, medical-device makers, and healthcare providers manage the approval, billing, and payment of medical aids.

HMM was founded in 2006 and is headquartered in Moers, Germany. The company has more than 200 employees and operates X3.Net, a digital platform connecting health insurers, medical-device providers, and healthcare service providers.

X3.Net helps healthcare ecosystem participants handle cost estimates, approvals, billing, and reimbursements for medical aids in real time. The platform is used by health insurers, medical-device makers, and thousands of healthcare providers across Germany.

The acquisition gives HMM a long-term owner with capital and operational expertise to support the company’s next stage of growth. HMM’s founders and management team had been seeking a partner that could invest in the platform, strengthen the product, accelerate AI adoption, and preserve customer relationships developed over nearly two decades.

Banyan said HMM’s team will remain in Moers and that the company’s customer relationships will remain intact. Banyan plans to support HMM with investment in its eHealth platform, responsible automation, and the employees who serve customers.

HMM offers its technology both as software that automates a customer’s own processing and as a managed service operated on the customer’s behalf. Its product families support payors, providers, and long-term-care insurance.

For Banyan, the acquisition expands its portfolio of vertical software businesses in specialized industries. Banyan uses a buy-grow-and-hold-for-life approach and focuses on providing a permanent home for software companies while supporting product expansion, AI expertise, and operational discipline.

Banyan Software is headquartered in Toronto and operates more than 100 portfolio companies across North America, South America, Europe, and APAC.

KEY QUOTES:

“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.”

Istok Kespret, Founder of HMM

“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.”

Kay-Ingo Greve, Operating Partner at Banyan Software