The acquisition will enable Waystar to automate tasks such as utilisation management and clinical documentation integrity.

Healthcare-software company Waystar has agreed to buy private-equity backed Iodine Software for $1.25 billion, including debt. The transaction was announced Wednesday afternoon, confirming a prior report by The Wall Street Journal. Waystar will fund the deal with an equal mix of cash and stock.

Waystar plans to acquire AI-driven revenue cycle management company Iodine Software, its first acquisition since going public last year. | Waystar plans to acquire AI-driven revenue cycle management company Iodine Software,