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Royal Bank of Canada RY-T says it has acquired MDBilling.ca, a cloud-based platform that automates medical billing for Canadian physicians.

Financial terms of the deal were not disclosed.

RBC says the company joins Dr.Bill, another medical billing company acquired by the bank in 2020.

MDBilling.ca services physicians in Ontario and British Columbia.

The Toronto-based company was founded in 2008 and is used by close to 9,000 physicians.

Jaime Wong, co-founder and CEO of MDBilling.ca, says the deal is a great opportunity for the company’s employees and clients as it moves into its next phase of growth.

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