PE Giant KKR Backs AI-Powered Healthcare SaaS Startup Infinx

Private equity giant KKR has bought a significant minority stake in healthcare SaaS company Infinx Services through its Asian Fund IV, the largest PE fund active in Asia. 

While KKR did not disclose deal size, a Moneycontrol report claimed the deal was worth $150 Mn.

In a press statement, the private equity major said it will leverage its experience in the global healthcare and technology sectors to help Infinx expand its network and support acquisitions for growth. 

Besides KKR, Norwest Venture Partners, one of Infinx’s existing investors, also participated in the round. 

“Digital transformation will play an increasingly important role in helping companies to streamline complex processes and improve productivity. Considering this tailwind, we are pleased to invest in Infinx given its comprehensive suite of flexible, tech-enabled offerings, strong management team and proven ability to serve healthcare providers,” said Akshay Tanna, partner and head of India private equity at KKR.

Founded by Sandeep Tandon and Jaideep Tandon in 2012, Infinx offers data-driven outsourcing services for the global healthcare market. Its services include patient access, health information management, revenue integrity, medical billing, revenue acceleration, and revenue cycle optimisation and automation. 

In some of these verticals, Infinx competes with healthtech unicorn Innovaccer — both companies primarily offer their products in the US. 

Infinx claims to be working with 400 healthcare provider organisations, and claims to support 172,000 healthcare professionals across 4,000 facilities. These services are offered to healthcare specialists, ambulatory surgery centres, acute care hospitals, rural hospitals, physician groups, LTC pharmacies and dental practitioners. 

“With KKR’s support, network and differentiated expertise, we are even better positioned to accelerate our growth, continue our investment in innovative solutions to help improve the financial health of healthcare providers,” Infinx cofounder and CEO Jaideep Tandon said.

In recent months, KKR has sharpened its focus on the healthcare opportunity in India, as well as on healthtech companies catering to the global market. As per reports, KKR is looking to acquire Indian medical devices company Healthium Medtech from UK-based Apax Partners in a deal said to be valued at INR 7,000 Cr ($840 Mn).