(Reuters) -Healthcare software firm Waystar said on Wednesday it will buy privately held Iodine Software in a deal worth over $1.25 billion, including debt, to expand its use of artificial intelligence in healthcare payments and expand its market reach.
Waystar will acquire all of Iodine from shareholders led by private equity firm Advent International, with the transaction funded through a mix of cash and stock. Following the deal’s completion, Iodine’s shareholders will hold about 8% of the combined company.
The news was first reported by the Wall Street Journal.
(Reporting by Mariam Sunny and Kamal Choudhury in Bengaluru; Editing by Devika Syamnath and Anil D’Silva)
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