IKS Health, Mumbai-based health tech provider said it has acquired AQuity Solutions, a leading provider of tech-enabled clinical documentation, medical coding, and revenue integrity solutions for a deal size of $200 million.
IKS Health has a market leadership in the ambulatory (outpatient) market in US where it takes care of administrative, clinical, and financial support services to doctors and clinics, and allow them to focus on core purpose of delivering clinical care.
The acquisition of AQuity will help IKS to expand into acute care market enabling it to provide services across the continuum of care delivery.
The combined company, which will operate as IKS Health, will have annual revenues of over $330 million as well as a global workforce of over 14,000 employees serving over 150,000 doctors in many of the largest hospitals, health systems, and specialty groups in the US
“Financial instability, large-scale staffing challenges, and the precarious health status of so many Americans all call for deeper, more comprehensive solutions that address these root issues,” said Sachin K. Gupta, Founder and CEO of IKS Health.
“The coming together of IKS and AQuity allows us to enable Clinicians with their chores across the continuum of care,” Gupta added
This acquisition advances IKS Health’s Care Enablement Platform, consisting of technology and service offerings that span revenue optimization, clinical support, value-based care, and digital health solutions.
Specifically, AQuity’s rich datasets enable IKS to rapidly mature and scale its proprietary AI solutions.
This purchase follows recent strategic technology investments in Abridge, a Generative AI platform to reduce administrative burden and Sift Healthcare, a predictive analytics solution for revenue cycle management. IKS’s cloud-based, HIPAA-compliant platform integrates with all electronic health records (EHR) and enterprise practice management systems.
