Two healthcare payment technology companies will merge as Waystar moves to acquire eSolutions, marking the first time that commercial and government payers will be on the same payments platform.
The deal is expected to close this year.
The amount Waystar agreed to pay couldn't be determined, according to the Wall Street Journal, but Overland Park, Kan.-based eSolutions is valued at around $1.3 billion.
Similar to Waystar, eSolutions is a revenue cycle technology company, but it has unique Medicare-specific solutions and more than 6,000 payer connections.
"Uniting our companies' data sets will further power Waystar Hubble, our artificial intelligence solution, providing access to even greater insights and value for our clients," said Matthew Hawkins, CEO of Louisville-based Waystar. "We have long admired eSolutions for its unique Medicare-specific revenue cycle capabilities, which are a perfect complement to the Waystar platform. We are excited to move forward as one team."
Waystar supports more than 450,000 providers, 750 health systems and hospitals and 5,000 payers and health plans through its cloud-based payment platform.