Home Health Care Revenue cycle management company Waystar acquires Digitize.AI amid rumors of its own...

Revenue cycle management company Waystar acquires Digitize.AI amid rumors of its own sale

4
0
SHARE

Revenue cycle management company has continued its string of recent acquisitions with the purchase of prior authorization company Digitize.AI, but the bigger news is be its own rumored impending sale by private equity firm Bain Capital.

According to a report from PE Hub that cites unnamed sources, the Louisville, Kentucky-based could be sold off for a price in the range of $2.7 billion to $3 billion by the end of the month.

The purchase of Digitize.AI, a Chicago startup that uses machine learning to automate the prior authorization process, is Waystar’s fourth such deal over the past year.

The buying spree kicked off when Waystar acquired Waltham, Massachusetts-based revenue cycle management startup Connance last September to bolster its staff, technical capabilities and business footprint.

That deal was followed by the purchase of the health claims monitoring division of UPMC’s Ovation Revenue Cycle Services.

Earlier this year, the company also purchased PARO Decision Support in June, a revenue-cycle management services firm focused on applying predictive analytics to charity care for nonprofit hospitals.

Waystar itself was formed as a result of a $750 million 2017 merger between revenue cycle management companies ZirMed and Navicure largely brokered by Bain Capital.

Earlier this year, Bloomberg News reported that Bain was considering a sale of Waystar with Oracle and Visa named as two potential acquirers.

Photo: mediaphotos, Getty Images

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here