In an effort to tackle the U.S healthcare crisis, IKS Health, led by Sachin K. Gupta and backed by Rare Enterprises, has purchased AQuity Solutions for $200 million. The acquisition was financed by JP Morgan, CITI, and SMBC, along with ₹600 crore from internal accruals.
Following the acquisition, AQuity Solutions will operate as a subsidiary of IKS Health. It will continue to provide comprehensive administrative, clinical, and financial services to U.S healthcare organizations. The purchase of AQuity Solutions is set to enhance IKS Health's care enablement platform for value-based care through investments in AI platforms Abridge and Sift Healthcare.
The combined entity is targeting an annual revenue of $330 million and plans to expand its workforce from 14,000 to 64,000 within three years. This acquisition is expected to provide a significant boost to IKS Health's proprietary AI solutions. By utilizing AQuity's datasets, IKS intends to refine these solutions using Reinforced Learning Through Human Feedback (RLHF) on its HIPAA compliant platform that integrates seamlessly with all Enterprise Practice Management systems.
This strategic move by IKS Health signals a significant step towards addressing the ongoing U.S healthcare crisis by leveraging advanced technology and expanding its service portfolio in the market.
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