Latest News | Rare Enterprises-backed IKS Health Acquires US Firm Aquity for USD 200 Million
Get latest articles and stories on Latest News at LatestLY. Rare Enterprises-backed IKS Health on Tuesday said it has acquired American company Aquity Solutions for USD 200 million (about Rs 1,660 crore).
Mumbai, Oct 31 (PTI) Rare Enterprises-backed IKS Health on Tuesday said it has acquired American company Aquity Solutions for USD 200 million (about Rs 1,660 crore).
Aquity is engaged in tech-enabled clinical documentation, medical coding, and revenue integrity solutions for healthcare, as per a statement.
Post-acquisition, the company will have annual revenues of over USD 330 million and operate as IKS Health, the statement said.
It will have a global workforce of over 14,000 employees who would be serving over 1.50 lakh clinicians in the US, it said.
IKS Health is set to raise Rs 1,000 crore from global banks while the remaining Rs 600 crore will come from internal accruals.
It will be borrowing Rs 1,000 crore from JP Morgan, CITI and HSBC for the deal, it said.
The company also aims to recruit 50,000 more resources in the next three years in addition to the current strength of 14,000 people, the statement added.
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