M&A M&A
IKS Health acquires US-listed revenue cycle mgmt co. TruBridge for $565-M
Source Mint (opens in a new tab)Press Release (opens in a new tab)
Mumbai-based Inventurus Knowledge Solutions (IKS Health) has acquired Nasdaq-listed, Alabama, USA-based TruBridge for USD 565 million. The deal, executed through IKS Health's US subsidiary, is financed by a loan of USD 670 million for a five-year term from Citibank, Deutsche Bank and JPMorgan Chase. TruBridge shareholders will receive USD 26.25 in cash per common share.TruBridge is a provider of healthcare technology solutions and revenue cycle management services in the US, serving over 700 rural, community and critical access hospitals and generating a revenue of USD 347 million. This acquisition will enable IKS Health to diversify into the SaaS electronic health records (EHR) segment, offering an integrated suite of electronic medical records and care enablement platform solutions.