Banyan Software Acquires HMM

Moers-based eHealth platform joins Banyan to accelerate its next phase of growth

MUNICH--(BUSINESS WIRE)-- Banyan Software, a Canadian-based acquirer and long-term operator of successful software businesses headquartered in Toronto, is pleased to announce the acquisition of HMM Germany ("HMM"), a leading B2B eHealth platform that helps health insurers, medical-device makers, and healthcare providers manage the approval, billing, and payment of medical aids.

Founded in 2006 and headquartered in Moers, HMM and its over 200 employees operate X3.Net, a digital platform that connects health insurers, medical-device providers, and healthcare service providers, helping them handle cost estimates, approvals, billing, and reimbursements for medical aids in real time. HMM is trusted by health insurers, medical-device makers, and thousands of healthcare providers across Germany, relationships the team has built over two decades.

HMM's founders and management team sought a long-term partner that could provide the capital and operational expertise to invest in the platform, enhance the product, accelerate AI adoption, and support the next phase of growth while preserving the company's longstanding customer relationships.

"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

About HMM

Founded in 2006 and headquartered in Moers, Germany, HMM operates X3.Net, the eHealth platform that helps health insurers, medical-device providers, and thousands of healthcare providers manage the approval, billing, and payment of medical aids in real time. 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, spanning product families for payors, providers, and long-term-care insurance. Learn more at www.hmmdeutschland.de.

About Banyan Software

Banyan Software is the best permanent home for software businesses that serve specialized industries, their employees, and their customers. With a buy-grow-and-hold-for-life approach and a permanent capital base, Banyan acquires and grows companies worldwide, honoring founder legacies and helping portfolio companies enhance and expand through shared AI expertise and operational discipline. Banyan operates more than 100 portfolio companies across North and South America, Europe, and APAC. Learn more at www.banyansoftware.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260710593029/en/

Media Contact:
Katie Snyder
Pitch Public Relations
[email protected]

Source: Banyan Software

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