New Delhi, April 24 -- Jhunjhunwala family-backed Inventurus Knowledge Solutions (IKS) is acquiring a US-based firm operating in the healthcare space to strengthen the Mumbai-listed company's health records and revenue cycle management (RCM) offerings.
Inventurus, through its Delaware-based subsidiary IKS Next Horizon Inc, announced it will acquire Trubridge Inc for $565 million (around Rs 5,330 crore) in cash, subject to customary adjustments for net debt and selling expenses, according to a stock exchange filing. The healthcare technology firm will merge its US-based subsidiary with Trubridge.
The deal will help Inventurus diversify its business into a "sticky" software as a service (SaaS) electronic medical records (EMR) segment, enabling the company to provide an integrated suite of medical records and care enablement platform solutions to both existing and new clients.
Trubridge serves small and mid-small size hospitals in the US, offering them EMR solutions and revenue cycle management (RCM) services.
Its data and technology assets, including its HFMA Peer Reviewed suite of RCM offerings and electronic health record (EHR) solutions is expected to bolster Inventurus' capabilities as a technology-led, data-driven healthcare services provider, according to an exchange filing done by Inventurus.
IKS's proposed transaction will give Trubridge an enterprise value of $557 million (around Rs 5,255 crore). As of 2025, Trubridge recorded a revenue of $346.8 million, compared to $342.2 million in the preceding year, the filing showed.
The company plans to fund the transaction through debt financing. Certain lenders, namely Citibank North America and its affiliates, Deutsche Bank AG Singapore Branch, and JPMorgan Chase Bank and others will offer loans and revolving credit facilities totaling up to $670 million to IKS.
Inventurus is controlled by a group of trusts promoted by the Jhunjhunwala family. These include the Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust and Nishtha Jhunjhunwala Discretionary Trust. Apart from these, the Ashra Family Trust and Rajeshkumar Radheshyam Jhunjhunwala are also a part of the promoter groups.
Investor interest in segment
The deal comes amid growing investor as well as strategic business interest to back companies offering RCM and electronic health records.
Last month, the Swedish private equity firm EQT-backed GeBBS Healthcare acquired Coimbatore-based RMZ OptimizAR. In February, Bengaluru-based ACN Healthcare secured investment from True North.
In early-stage deals this year, Care.fi pocketed $8 million in a Series A round led by July Ventures.
Last year, companies such as Access Healthcare and AGS Health attracted significant capital. On the M&A front, Tandon Group-owned Infinx Services Pvt Ltd acquired the healthcare RCM business of Nasdaq-listed i3 Verticals Inc, including its proprietary technology, in May 2025. Separately, Mumbai-based One Point One Solutions acquired a US based RCM company for $45 million in January last year.
Published by HT Digital Content Services with permission from VC Circle.