Westpac is moving into the health payments market, announcing that it will acquire health claims processing business HealthPoint. HealthPoint provides point of sale services, connecting private health insurance companies, healthcare providers and financial institutions. Its services are used by general practitioners and specialists to process claims by their patients. The bank said it would integrate HealthPoint’s claims processing into its merchant payment offering. Westpac chief executive of business and wealth Anthony Miller said in a statement that the bank expects the healthcare industry to grow in coming years and it plans to invest in the business. The acquisition is subject to approval by the Australian Competition and Consumer Commission. NAB has been in the specialist healthcare payments market for years through its ownership of HICAPS and continues to invest in the sector. Last year HICAPS acquired digital claims technology business LanternPay. Last year, Commonwealth Bank added a healthcare solution, CommBank Smart Health, to its payment terminals. In addition to processing private health insurance claims, the system integrates with practice management systems to streamline administration.