Inventurus Knowledge Solutions (IKS), a healthcare technology company backed by the family of the late Rakesh Jhunjhunwala, is in advanced talks to acquire Nasdaq-listed TruBridge in the US for about $600 million.
According to a report in The Economic Times, if completed, this would be IKS’s largest acquisition, strengthening its position in healthcare solutions and revenue cycle management (RCM). A formal announcement is expected soon amid increased investor interest and consolidation in the sector over the past two years.
IKS is negotiating $675 million in financing with Citi, Deutsche Bank and JP Morgan to support its all-cash offer and refinance TruBridge’s debt, sources told the daily. TruBridge provides healthcare information technology and services to community hospitals and healthcare organisations.
IKS Healthcare, which gave the Jhunjhunwala family a 530-fold return during its December 2024 listing, is mainly held by three discretionary trusts of the promoter family, each owning 16.37%, the report added. Rekha Jhunjhunwala holds 0.23%, while founder Sachin Gupta owns 33.57%. The promoter group controls 63.7% of the company, which aims to simplify administrative tasks for physicians and medical staff. Founded in 2006 as an RCM service provider, IKS works with US healthcare providers.
The company manages various tasks within the care management process, including scheduling and denial management. After its $200 million acquisition of Aquity Solutions in October 2023, IKS added transcription services and expanded client relationships, some of which may scale in the medium term.
IKS aims to leverage its platform to compete with multiple point solutions used by physicians. IKS is open to acquiring inefficiently run assets in India and the US to generate synergies. Cost savings are expected mainly from optimising general and administrative expenses. IKS is evaluating assets across RCM and complementary client segments such as acute care, which offer cross-selling opportunities given its strong ambulatory presence.
