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Healthtech platform IKS Health, backed by ace-investor Rakesh Jhunjhunwala’s Rare Enterprises, has acquired AQuity Solutions, a tech-enabled clinical documentation and revenue integrity solutions company, for $200 million (about ₹1,600 crore).
IKS (Inventurus Knowledge Solutions) Health plans to raise ₹1,000 crore from three leading banks including JPM, Citi, and SMBC for financing the acquisition and pump in the remaining from internal accruals.
Resources addition
The company expects to recruit 50,000 more resources in the next three years. The addition of employees is over and above the current team strength of 14,000. IKS Health and AQuity have combined revenue of about ₹2,700 crore.
Sachin K Gupta, founder and CEO, IKS Health, said delivering better, safer care is everyone’s top priority, but too often, the ‘chores’ of healthcare get in the way of that core purpose.
To help turn the tide amid this state of crisis, he said the company firmly believe that revitalising the clinician-patient relationship and helping partners thrive financially are both fundamental.
The US-headquartered AQuity’s rich datasets enable IKS to rapidly mature and scale its proprietary AI solutions with critical expertise and guidance from Reinforced Learning Through Human Feedback. IKS’ cloud-based, HIPAA (US Health Insurance Portability and Accountability Act) compliant platform integrates with all EHR (Electronic Health Record) and Enterprise Practice Management systems.
For the past 17 years, IKS has built pragmatic technology and service solutions in partnership with its delivery partners. AQuity is also a rapidly growing company with a 40-year track record of bringing meaningful solutions that enable clinicians and help healthcare enterprises succeed. Together, the combined entity will help providers to realise financial value through revenue growth, cost reduction, and bottom-line improvements.
Kashyap Joshi, CEO, Aquity, said the combined capabilities of both the companies will deliver meaningful, pragmatic and proven solutions for the entire continuum of care, so that patients have a better experience and hospitals can thrive.
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