IKS Health has announced its acquisition of AQuity Solutions for $200 million in a deal backed by the late investor Rakesh Jhunjhunwala. The purchase, financed through internal accruals and bank debt, broadens IKS Health's services from ambulatory care providers to hospitals.
The combined entity will continue to operate under the IKS Health brand, with estimated annual revenues of $330 million and an expanded workforce of over 14,000 employees. This team consists of clinicians, technology experts, medical coders, and specialists.
CEO Sachin K. Gupta also revealed plans for an initial public offering (IPO) and potential expansion into the evolving Indian healthcare market, which is experiencing increasing health insurance penetration. Gupta cited financial instability in the U.S market, currently valued at $4.7 trillion and projected to reach $7 trillion by 2031. He expressed confidence that the merger could address these issues by enhancing the clinician-patient relationship and ensuring financial stability for their partners.
AQuity's CEO Kashyap Joshi echoed these sentiments, stating that the merger accelerates their commitment to delivering practical solutions across the care continuum.
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