Perfios, a B2B software-as-a-service TechFin company based in India, has acquired IHX, a healthcare information exchange platform, for an undisclosed sum.
The acquisition combines Perfios’ health data capabilities with IHX’s network to improve the health insurance claims process.
IHX connects healthcare providers and payers, supporting digital integration across the industry.
The platform processes more than 40% of India’s cashless health insurance claims, equating to more than ten million transactions and $1bn (Rs85.11bn) in claims each year, Perfios added.
IHX has partnerships across 30,000 hospitals in over 1,200 locations and with more than 30 payers.
IHX MD Mahesh Nagaraj stated: “Joining forces with Perfios marks an exciting new chapter for IHX. The combination of Perfios’ cutting-edge technology stack, advanced decision analytics and global scale with IHX’s deep domain expertise, unique data exchange platform and trusted network across hospitals and payers sets the stage for our accelerated growth and expanded impact.
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By GlobalData“This partnership enhances the value we bring to our clients, unlocks new opportunities for our team, and deepens our commitment to innovation, transparency and excellence in health claims management.”
This acquisition follows Perfios’ recent purchases of Clari5 and CreditNirvana, which have strengthened its capabilities in financial crime management and debt management, respectively.
Perfios CEO Sabyasachi Goswami said: “The acquisition of IHX is a strategic leap in our mission to transform the healthcare claims landscape. IHX has long served as the backbone of India’s health claims ecosystem, and we are excited to welcome the IHX team into the Perfios family.
“By combining IHX’s stronghold in the healthcare ecosystem with Perfios’ deep expertise in data intelligence and analytics, we are poised to drive greater efficiency, reduce claims turnaround time, and elevate the experience for both patients and healthcare providers.”
Set up in 2008, Perfios serves the banking, financial services and insurance industry across 18 countries.
The company offers a suite of more than 75 products and platforms, complemented by more than 500 application programming interfaces, to provide a technology platform for financial service providers.
