Silicon Valley-based healthtech unicorn Innovaccer has acquired 29-year-old billing firm CaduceusHealth, marking its fifth acquisition in two years. The deal will bring 4,000 US healthcare providers and nearly $5 billion in annual medical billing onto Innovaccer’s Flow platform. The acquisition is valued at about $66 million, people aware of the matter told ET.
The Caduceus acquisition will add nearly 200 employees to Innovaccer’s rolls and open up a new avenue for the company in revenue cycle management, cofounder Abhinav Shashank told ET. Currently, the company unifies fragmented data from legacy hospital systems into a single cloud platform. It allows healthcare providers to coordinate patient care and use AI agents to automate billing and administrative workflows.
