Infinx acquires i3 Verticals' healthcare RCM biz for USD 96 mn

Mumbai, May 7 (PTI) City-headquartered Infinx on Wednesday said it has acquired Nasdaq-listed i3 Verticals' healthcare revenue cycle management business for USD 96 million.

The 2012-founded Infinx is aiming to strengthen presence in the healthcare revenue cycle management (RCM) space and expand footprint into new customer segments like academic medical centers and other large provider groups through the acquisition, as per a company statement.

The deal includes i3's proprietary technology, and the domestic company will also add an experienced team and established customer base through the transaction, the statement said.

"Their (i3's) deep experience supporting academic medical centers and the strong relationships they've built over the years are an ideal complement to our technology-driven approach," Jaideep Tandon, chairman and chief executive of Infinx said.

I3 Verticals' chairman and chief executive Greg Daily said the company had set out to build a platform to deliver RCM solutions several years ago for the healthcare industry and continue to believe that this is an attractive market.

"However, we also recognize that scale is important in revenue cycle management, and our future is in providing enterprise software solutions in other markets," Daily said, explaining the reasons for the sale. PTI AA DRR