CHICAGO and SAN FRANCISCO, April 10, 2008 (PRIME NEWSWIRE) -- Canopy Financial, a leading provider of financial technology and electronic payment solutions to the healthcare and financial services industries, announced today the company has been selected as a Red Herring 100 North America 2008 Finalist. Technology industry executives, investors, and observers have regarded the Red Herring 100 list as an invaluable instrument to discover and advocate the promising startups that will lead the next wave of disruption and innovation. Canopy is working to solve the current healthcare crisis in America through patent-pending technologies and services that drive the emerging healthcare banking industry and market for Consumer Driven Healthcare (CDH).
"We are extremely pleased to have been selected as a Red Herring 100 North America 2008 finalist, an award which seeks to identify innovators and next generation industry disruptors," said Vik Kashyap, CEO of Canopy Financial. "Today Americans spend over two trillion dollars or roughly sixteen percent of GDP annually on healthcare, with over forty million Americans entirely without healthcare coverage. Canopy's innovative technologies are driving the CDH programs currently being offered by many of the nation's largest financial institutions and healthcare providers, with new products and services that are changing the way businesses and consumers more affordably access and manage healthcare benefits and spending dollars. At its core, Canopy is engaged and committed to revolutionizing healthcare as we currently know it and solving the crisis that plagues American businesses and consumers. To be recognized by Red Herring for our efforts is a tremendous honor."
Canopy Financial's core service offerings include HealthDirect, the leading technology-enabled administration and account management platform for Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Voluntary Employees' Benefit Associations (VEBAs). HealthDirect allows healthcare and financial institutions to dramatically streamline the administration of health-related spending accounts, while enabling total control over branding, pricing, fees, interest rates, substantiation rules, and the entire customer experience.
About Canopy Financial
Canopy Financial provides innovative technology solutions that connect healthcare and financial services. Serving some of the world's largest healthcare and financial institutions, Canopy powers the development and delivery of complete healthcare banking services for both consumers and businesses. Founded in 2004, Canopy maintains offices in San Francisco and Chicago. For more information, please visit www.canopyfi.com or call 1-866-960-4700.
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