New Delhi: IKS Health, with backing from the late Rakesh Jhunjhunwala’s Rare Enterprises, has completed the acquisition of AQuity Solutions, a U.S.-based health-tech solution firm, in a $200 million deal (approximately ₹1,600 crore).
IKS Health, established in 2006, specialises in offering administrative, clinical, and operational services to healthcare organisations in the United States. To finance the acquisition, the company plans to raise ₹1,000 crore from prominent banks like JP Morgan, CITI, and SMBC, along with ₹600 crore from internal accruals.
Following the acquisition, AQuity Solutions will operate as a wholly-owned subsidiary of IKS Health. AQuity, based in Cary, North Carolina, provides tech-enabled clinical documentation, medical coding, and revenue integrity solutions for healthcare firms.
The acquisition is expected to enable IKS Health to expand its offerings, becoming a comprehensive provider of administrative, clinical, and financial services for healthcare organisations in the U.S., aiming to improve the delivery of care across the healthcare continuum.
The merger between IKS Health and AQuity will result in a combined company with annual revenues of approximately $330 million (₹2,700 crore) and a global workforce exceeding 14,000 employees, serving over 150,000 clinicians in various healthcare settings in the United States.
The combined company’s team includes 1,500 clinicians, over 350 technology experts, medical coders, revenue integrity specialists, and clinical documentation specialists. IKS Health envisions recruiting an additional 50,000 resources within the next three years to address the critical issues currently facing the U.S. healthcare system.
The acquisition aligns with IKS Health’s goal of offering comprehensive solutions to address the challenges in the healthcare sector, promoting better, safer care delivery while streamlining administrative tasks.
Additionally, this strategic move enhances IKS Health’s care enablement platform, strengthening its technology and service offerings to encompass revenue optimisation, clinical support, value-based care, and digital health solutions, with a focus on leveraging AQuity’s rich datasets to enhance AI solutions and expanding its presence in the U.S. healthcare market.
