KKR has acquired a “significant minority stake” in Infinx Services Private Limited, an AI-driven healthcare revenue cycle solutions provider, the global private equity major said on May 21, as it steps up expansion in the Indian health segment.
KKR did not share the financial details, however, sources told Moneycontrol that it invested around $150 million to acquire a minority stake in Infinx.
“…we are pleased to invest in Infinx given its comprehensive suite of flexible, tech-enabled offerings, strong management team and proven ability to serve healthcare providers,” Akshay Tanna, Partner and Head of India Private Equity, KKR, said.
KKR made the investment from its Asian Fund IV.
KKR would leverage its extensive experience in the global healthcare and technology sectors to accelerate Infinx’s growth, expand the company’s network and support bolt-on acquisitions, the fund said in a statement.
Norwest Venture Partners, an existing shareholder, also participated in the transaction.
Co-founded in 2012 by Sandeep Tandon and Jaideep Tandon, Infinx is a provider data-driven revenue cycle management solutions for the healthcare sector, with focus on the US market.
Infinx’s Healthcare Revenue Cloud platform supports end-to-end revenue cycle business functions utilising AI, automation, payer integration, and workforce management. Infinx’s solutions support 172,000 healthcare professionals across 4,000 facilities including ambulatory, acute care and post-acute care providers, the statement said.
Infinx counts over 400 leading healthcare provider organisations as customers including hospitals, health systems and outpatient healthcare providers.
“With KKR’s support, network and differentiated expertise, we are even better positioned to accelerate our growth, continue our investment in innovative solutions to help improve the financial health of healthcare providers,” Infinx CEO Jaideep Tandon said.
Rothschild & Co was Infinx’s financial adviser.
As reported by Moneycontrol, KKR has also emerged as the front-runner to acquire rival Apax Partners promoted Healthium Medtech (earlier called Sutures India Pvt Ltd) in a deal which is likely to value the medical devices firm between $750-$850 million.
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