Waystar Holding Corp. is set to acquire Iodine Software for $1.25 billion, with an even split of cash and stock. Waystar shareholders will own 92% of the combined entity. Advent, Iodine’s largest shareholder, will receive Waystar shares and has agreed to an 18-month lock-up post-closing. The deal aims to enhance Waystar’s cloud-based platform with Iodine’s AI-powered clinical intelligence software.

The acquisition will allow the combined entity to serve 17 of the 20 US News Best Hospitals and expand Waystar’s total addressable market by over 15%. By integrating Iodine’s AI engine, the companies expect over $15 million in cost synergies within the first two years. The deal is anticipated to close by the end of 2025, subject to regulatory approvals.

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Read more at Yahoo Finance: Waystar to Acquire Iodine Software in $1.25B Deal to Enhance AI-Powered Healthcare Platform