SIOUX FALLS, S.D., April 3, 2018 /PRNewswire/ --
MetaBank®; a wholly-owned subsidiary of Meta Financial
Group, Inc.® (NASDAQ: CASH) ("Meta") and a leader in
delivering innovative payment, community banking and financing
solutions to partners throughout the country, today announced a
new, three-year agreement with Health Credit Services ("HCS"), a
technology driven, patient financing company. MetaBank will approve
and originate loans for elective procedures for HCS provider
offices throughout the country. HCS will work with its provider
partners to market the loans, as well as provide servicing for
them. Over the course of this relationship, MetaBank expects to
originate at least several hundred million dollars in personal
loans.
"Health Credit Services is a creative, solutions-driven partner
for thousands of medical patients throughout the country, and we
couldn't be more excited to work with them to deliver a seamless
experience to those patients," said Brent
Turner, MetaBank Executive Vice President and Head of
Consumer Lending. "We look forward to leveraging our origination
and underwriting platform to help them grow, differentiate
themselves in the healthcare financing industry and continue to
serve these patients."
This relationship is part of Meta's continued investment in
consumer lending, following the 2016 acquisition of Specialty
Consumer Services ("SCS"), now a division of MetaBank. Through the
acquisition, MetaBank acquired a platform that provides a total
solution for marketplace lending, including underwriting and loan
management. Since then, Meta has invested in additional personnel
and technology enhancements to enrich its market offerings.
"In our rapidly evolving healthcare environment, modern
consumers carry a financial burden of more than $486 billion in out-of-pocket costs," said
Hans Zandhuis, CEO of HCS. "MetaBank
provides a platform that supports our unique product growth plans.
Our partnership is expected to increase access to quality-of-life
medical procedure financing, giving patients the opportunity to
easily and responsibly manage their healthcare expenses."
"At the core of HCS is our belief that more Americans should
have access to the medical procedures they need," continued
Zanhuis. "It's what drove us to found HCS. It's also why we
continue to specialize in only healthcare financing while
committing ourselves to devising new ways for patients to afford
care."
About Meta Financial Group
Meta Financial Group, Inc.
("Meta") is the holding company for MetaBank®, a
federally chartered savings bank. Meta shares of common stock are
traded on the Nasdaq Global Select Market® under the symbol
CASH. Headquartered in Sioux Falls,
S.D., MetaBank operates in both the Banking and Payments
industries through: MetaBank, its community banking operation; Meta
Payment Systems, its electronic payments division; AFS/IBEX, its
commercial insurance premium financing division; and Refund
Advantage, EPS Financial and Specialty Consumer Services, its
tax-related financial solutions divisions. More information is
available at metafinancialgroup.com.
About Health Credit Services
Health Credit Services
("HCS") is on a mission to increase access to healthcare. At HCS,
we recognize and empathize with the financial barriers to care that
routinely impact providers and patients. The challenges of today
impassion us to invest smart, simple financing solutions, while
delivering a seamless customer experience. From practices
delivering more care to patients successfully managing their
health, we take pride in empowering and equipping our customers to
take charge of both their physical and financial well-being. To
learn more about HCS patient financing solutions, visit
hcsloans.com.
Forward Looking Statements
This release includes
statements which may constitute forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 including, but not limited to, the
statement regarding MetaBank's expectation to originate at least
several hundred million dollars in personal loans during the
three-year term of the agreement with HCS and statements regarding
anticipated impacts on HCS's business resulting from the agreement
with MetaBank, including with respect to HCS's future growth,
differentiation within the healthcare financing industry and
increased patient access to medical procedure financing.. The
accuracy of these statements are necessarily subject to risks,
uncertainties, and assumptions as to future events that may not
prove to be accurate. Various factors could cause actual results to
differ materially from those expressed or implied herein, including
market demand for product and the factors discussed in Meta's most
recent Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. Meta expressly disclaims any
intent or obligation to update any forward-looking statement,
whether written or oral, that may be made from time to time by or
on behalf of Meta or its subsidiaries.
Meta Media
Contact:
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Meta Investor
Relations Contact:
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Katie
LeBrun
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Brittany Kelley
Elsasser
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Corporate
Communications Director
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Director of Investor
Relations
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605.362.5140
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605.362.2423
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klebrun@metabank.com
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bkelley@metabank.com
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SOURCE Meta Financial Group, Inc.