KKR grabs minority stake in Indian AI healthcare firm

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Global investment firm KKR has acquired a minority stake in Infinx, an Indian machine learning- and AI-powered healthtech firm.

While the financial details weren’t disclosed, a Moneycontrol report cited sources saying that KKR invested around US$150 million for the deal. According to a statement, the investment comes from KKR’s Asian Fund IV.

Norwest Venture Partners, already a shareholder in Infinx, also took part in this deal.

Established in 2012 by Sandeep Tandon and Jaideep Tandon, Infinx offers data-driven revenue cycle management (RCM) solutions tailored for the healthcare industry. These help healthcare providers process clearance and give pay estimates for patients, as well as check their benefits, among others.

Infinx also said it helps ensure accurate claims are submitted the first time around and maximize reimbursements for care providers.

Its RCM solutions cater to over 172,000 healthcare professionals across 4,000 facilities, encompassing ambulatory, acute care, and post-acute care providers, per the statement.

The company’s clientele is said to comprise 400 leading healthcare provider organizations, including hospitals, health systems, and outpatient healthcare providers.

Infinx mainly focuses on the US market, where healthcare spending reached around US$4.3 trillion in 2022. This investment aims to accelerate the company’s growth, expand its network, and support further acquisitions.

Recently, KKR also agreed to acquire India-based medical devices company Healthium Medtech for US$839 million.

Aiming to take a controlling stake in Healthium, the investment firm will complete the acquisition through a special-purpose vehicle owned by KKR-controlled funds.

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