M&A M&A
Healthtech co. Innovaccer acquires US-based RCM services provider CaduceusHealth for $66-M
Source Inc42 (opens in a new tab)Acquirer Announcement (opens in a new tab)
India- and USA-based healthtech startup Innovaccer has acquired the assets of New Jersey, USA-based revenue cycle management (RCM) services provider CaduceusHealth in a deal valued at USD 66 million.Founded in 1997, CaduceusHealth provides outsourced revenue cycle management, medical billing, and clinical staffing solutions to approximately 4,000 healthcare providers across the US, managing USD 5 Billion in gross patient charges annually. Innovaccer plans to integrate the firm’s database of specialised medical codes and insurance guidelines into its own AI-native Flow platform.Innovaccer, founded in 2014 by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta, helps healthcare organisations unify data from legacy systems. The company serves over 200 health systems and payers, has raised over USD 650 million in capital, and holds a valuation of USD 3.2 Billion. The acquisition follows a series of recent strategic investments, including the purchase of Story Health, Humbi AI, Cured, and Pharmacy Quality Solutions.