KKR buys stake in AI-driven BPO firm Infinx

Global investment firm KKR has bought a minority stake in AI-driven healthcare business process outsourcing (BPO) firm Infinx Services Pvt. Ltd, the company said.

The global private equity firm did not disclose financial details of the deal, though on Monday, 20 May, The Economic Times reported KKR is likely to have invested about $150 million for a 26% stake in the revenue cycle solutions provider. A KKR-managed fund will make the investment, the company said.

Norwest Venture Partners, an existing shareholder, also participated in the transaction.

KKR said it plans to leverage its experience in the healthcare and technology sectors to accelerate Infinx’s growth, expand the company’s network, and scout for similar acquisitions.

“Digital transformation will play an increasingly important role in helping companies 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,” Akshay Tanna, partner and head of India private euity, KKR, said.

Co-founded in 2012 by Sandeep Tandon and Jaideep Tandon, Infinx provides data-driven revenue cycle management solutions for the healthcare sector, primarily in the US.

Healthcare providers such as hospitals use revenue cycle management solutions to help them keep track of patient care, billing, and other payments.

Infinx’s Healthcare Revenue Cloud platform uses AI, automation, payer integration, and workforce management to support such functions.

The company serves over 400 healthcare provider organizations, with about 172,000 professionals across 4,000 facilities using its platform.

“We are thrilled to collaborate with KKR. Infinx has been a leader in the healthcare revenue cycle and an early adopter of automation and AI technologies. With KKR’s support, network and differentiated expertise, we are even better positioned to accelerate our growth and continue our investment in innovative solutions to help improve the financial health of healthcare providers,” Jaideep Tandon, CEO of Infinx, said.

Sudeep Tandon, managing director of Infinx, said:  “The strategic partnership with KKR will allow us to accelerate our growth through continued strategic acquisitions and to broaden our market reach to new healthcare specialties. We look forward to leveraging KKR’s deep healthcare and technology experience to increase our investments in AI, predictive analytics and automation.”

Infinx was advised by Rothschild and Co.

“Infinx has delivered high growth and built a strong foundation since our first investment in 2021. We are excited to invest further in this financing and welcome KKR as an investor,” Shiv Chaudhary, managing director of Norwest India, said.

Founded in 2012, Infinx has a global team across the US, India and Philippines.

In 2023, Infinx was ranked as a top revenue cycle management vendor by healthcare research firms Everest Group and Black Book Research.