Norwest Venture Partners, an existing stakeholder, took part in the transaction as well.
Infinx Services Private Limited is a supplier of AI-driven healthcare revenue cycle solutions. On May 21, KKR, a global private equity firm, announced that it had acquired a “significant minority stake” in the company as part of its ongoing expansion into the Indian health industry.
Although KKR would not disclose the financial information, insiders informed Moneycontrol that the company spent around $150 million to purchase a minority interest in Infinx.
Akshay Tanna, Partner and Head of India Private Equity at KKR, said, "We are happy to invest in Infinx given its broad range of flexible, tech-enabled offerings, powerful leadership team, and proven ability to serve healthcare providers."
The investment was made by KKR using its Asian Fund IV.
According to a statement from the fund, KKR would use its wealth of knowledge in the international healthcare and technology industries to boost Infinx's expansion, broaden its network, and facilitate bolt-on acquisitions.
Existing stakeholder Norwest Venture Partners took part in the deal as well.
Infinx, a supplier of data-driven revenue cycle management solutions for the healthcare industry with an emphasis on the US market, was co-founded in 2012 by Sandeep and Jaideep Tandon.
The Healthcare Revenue Cloud platform from Infinx enables workforce management, automation, AI, and payer connectivity to support end-to-end revenue cycle business tasks. According to the announcement, Infinx's solutions assist 172,000 healthcare professionals working in 4,000 institutions, including ambulatory, acute care, and post-acute care providers.
Hospitals, health systems, and outpatient healthcare providers are among the more than 400 prestigious healthcare provider organizations that Infinx claims as clients.
"We are even better positioned to accelerate our growth as well as continue our investment in innovative solutions to help restore the financial health of healthcare providers with KKR's support, network, as well as differentiated expertise," said Jaideep Tandon, CEO of Infinx.
The financial advisor to Infinx was Rothschild & Co.
According to Moneycontrol, KKR has also emerged as the front-runner to purchase Healthium Medtech, formerly known as Sutures India Pvt Ltd, which is sponsored by competitor Apax Partners. The medical equipment company is expected to be valued between $750-850 million in this transaction.
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