Infinx Acquires i3 Verticals to Expand Academic Medical Centers
Infinx, a revenue cycle management (RCM) solutions provider located in Mumbai, revealed the purchase of the US-based i3 Verticals’ healthcare RCM division, along with its proprietary technology, for $96 million (approximately Rs 800 crore) to enhance its foothold in academic medical centers.
The deal enhances Infinx’s market position in healthcare RCM and broadens its reach into new client segments, such as academic medical centers and other sizable provider organizations.
The agreement is contingent upon adjustments to the purchase price after closing.
The acquisition takes place within two months of its purchase of US-based Glidian, a prior authorisation processing company, for an undisclosed sum to expand its laboratory market.
Jaideep Tandon, chairman and CEO of Infinx says, “Their deep experience supporting academic medical centers and the strong relationships they’ve built over the years are an ideal complement to our technology-driven approach. By combining their trusted expertise with our AI-powered RCM Insights, patient access, and automation platforms, we’re excited to deliver meaningful financial and clinical outcomes for healthcare providers nationwide.
The market for outsourced RCM services was valued at roughly $20 billion in 2023 and is anticipated to expand at a compound annual growth rate (CAGR) of 12 percent until 2029, according to a recent report by the investment banking and asset management company Avendus Capital.
Founded in 2012, Infinx offers AI-powered solutions that enhance the financial lifecycle of healthcare providers, addressing patient access and revenue cycle management.
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The organization collaborates effectively with healthcare providers to tackle their revenue cycle issues by utilizing automation and intelligence to boost reimbursements for the care provided to patients.