Home / Business and Economy / Waystar Acquires Iodine Software in $1.25B Deal to Expand AI in Healthcare Payments
Waystar Acquires Iodine Software in $1.25B Deal to Expand AI in Healthcare Payments
23 Jul
Summary
- Waystar to acquire Iodine Software for over $1.25 billion
- Deal funded through cash and stock, Iodine shareholders to hold 8% of combined company
- Acquisition to expand Waystar's use of AI in healthcare payments
On Wednesday, July 23, healthcare software company Waystar revealed it will acquire Iodine Software, a privately held firm, in a deal worth over $1.25 billion, including debt. The transaction will be funded through a combination of cash and stock, and upon completion, Iodine's shareholders will hold approximately 8% of the combined entity.
The acquisition is part of Waystar's strategy to expand its use of artificial intelligence in healthcare payments and increase its market presence. Iodine Software, which is backed by private equity firm Advent International, provides AI-powered solutions for healthcare organizations. By integrating Iodine's technology, Waystar aims to enhance its capabilities in areas such as revenue cycle management and patient financial experience.
The deal is expected to strengthen Waystar's position in the growing healthcare technology market, where the demand for innovative solutions to streamline administrative processes and improve financial outcomes continues to rise. The combined company will leverage its expanded expertise and resources to better serve healthcare providers and patients alike.
