Waystar has completed its $1.25 billion acquisition of AI-powered revenue cycle management company Iodine Software.
Iodine joins Waystar with a client base of more than 1,000 hospitals and health systems, expanding Waystar’s total addressable market by more than 15%, according to an Oct. 1 news release.
“Iodine joining Waystar brings together comprehensive clinical and financial intelligence on a single AI-powered platform — a unique differentiator in the market,” Waystar CEO Matt Hawkins said in the release. “This further powers automation in the revenue cycle, strengthens financial performance and leverages combined data assets to drive a continuously learning AI platform that maximizes client outcomes.”
The deal was first announced in July. Waystar said at that time the acquisition would be funded with a 50/50 mix of cash and stock consideration.
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