Business
Waystar Closes Acquisition of Iodine Software, Extending AI Leadership in Healthcare Software
Unites industry-leading AI-powered financial and clinical intelligence on Waystar's cloud-based software platform Expands total addressable market by more
About this update from Waystar Holding Corp.
[{"type":"text","content":"\n Unites industry-leading AI-powered financial and clinical intelligence on Waystar's cloud-based software platform\n \n \n Expands total addressable market by more than 15%; expected to be accretive to financial profile with highly recurring subscription-based business\n \n \n LEHI, Utah, and LOUISVILLE, Ky., Oct. 1, 2025 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today announced the successful completion of its acquisition of Iodine Software (\"Iodine\"). The combination of one of the industry's largest financial datasets with one of the largest clinical datasets strengthens Waystar's AI platform to deliver transformational outcomes for healthcare providers while creating meaningful value for shareholders.\n \n \n \n \n \n \n \n Iodine's client base of more than 1,000 hospitals and health systems expands Waystar's total addressable market by over 15% and accelerates growth through enhanced cross-selling opportunities. Waystar expects the acquisition of Iodine to be immediately accretive to gross margin and adjusted EBITDA margin, and accretive to revenue growth and non-GAAP net income per diluted share in 2027. With a proven track record of successful M&A execution and post-acquisition integration, Waystar is confident in its ability to realize the benefits and synergies from this acquisition.\n Uniting Iodine's expertise in the critical stage between care delivery and claim submission provides Waystar expansive visibility across the healthcare payment ecosystem—fueling next-generation AI capabilities that prevent revenue leakage and ensure providers are paid fully and accurately.\n \"Iodine joining Waystar brings together comprehensive clinical and financial intelligence on a single AI-powered platform — a unique differentiator in the market,\" said Matt Hawkins, Chief Executive Officer of Waystar. \"This further powers automation in the revenue cycle, strengthens financial performance, and leverages combined data assets to drive a continuously learning AI platform that maximizes client outcomes.\"\n Barclays served as exclusive financial advisor, and Simpson Thacher & Bartlett LLP served as legal advisor to Waystar. J.P. Morgan Securities served as exclusive financial advisor, and Weil, Gotshal & Manges LLP and Queen Saenz + Schultz PLLC served as legal advisors t...