Waystar plans to acquire AI-driven revenue cycle management company Iodine Software, its first acquisition since going public last year. | Waystar plans to acquire AI-driven revenue cycle management company Iodine Software,

Waystar (WAY) said it will acquire health AI software company, Iodine Software, for a total enterprise value of $1.25B. The company expects that the integration of Iodine will enhance its gross margin and adjusted EBITDA margin immediately.

Healthcare-software company Waystar has agreed to buy private-equity backed Iodine Software for $1.25 billion, including debt. The transaction was announced Wednesday afternoon, confirming a prior report by The Wall Street Journal.