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i3 Verticals divests healthcare RCM business

Tuesday, May 06, 2025 — 16:57:45 (UTC)

NASHVILLE, Tenn.-- i3 Verticals, Inc. (“i3 Verticals” or the “Company”) (NASDAQ: IIIV), and Infinx, Inc. (“Infinx”), a leader in AI-powered revenue cycle management solutions, today announced the entry into a definitive agreement and the contemporaneous closing of the sale of i3 Verticals’ Healthcare Revenue Cycle Management (“RCM”) business, including its associated proprietary technology, to Infinx, in an all-cash transaction for $96 million, subject to post-closing purchase price adjustments. The Company will give more detailed information during its quarterly conference call on Friday, May 9, 2025, at 8:30 a.m. ET.

Greg Daily, Chairman and CEO of i3 Verticals, stated, “Several years ago we set off to build a platform to deliver fantastic revenue cycle management solutions for the healthcare industry. We are proud of what we built and continue to believe that this is an attractive market. However, we also recognize that scale is important in revenue cycle management, and our future is in providing enterprise software solutions in other markets. We found a great partner, and our healthcare management team will be well positioned to accomplish great things with Infinx.

“After the divestiture, we will be completely streamlined, focused on the Public Sector vertical, including the K-12 public education markets. We believe that focusing our efforts in this targeted area will maximize our growth potential and allow us to bring our customers the best possible service. We look forward to driving innovation and excellence in these sectors.”

Jaideep Tandon, Chairman and CEO of Infinx, stated, “We’re thrilled to welcome the i3 Verticals Healthcare RCM team and their customers into the Infinx family. Their deep experience supporting Academic Medical Centers, along with the strong and trusted relationships they’ve built over time, is a powerful complement to our mission. By combining their domain expertise with our AI-powered RCM Insights, patient access, and automation solutions, we look forward to working alongside them to deliver meaningful financial and clinical outcomes for healthcare providers nationwide.”

Advisors

Raymond James & Associates, Inc. served as financial advisors to i3 Verticals and Bass, Berry and Sims, PLC served as legal advisor to i3 Verticals.

Stinson LLP served as legal advisor to Infinx.

About i3 Verticals

The Company delivers seamless enterprise software to customers in strategic vertical markets. Building on its sophisticated and diverse platform of software and services solutions, the Company creates and acquires software products to serve the specific needs of public and private organizations in the Public Sector (including K-12 public education).

About Infinx

Founded in 2012, Infinx provides scalable, AI-driven solutions to optimize the financial lifecycle of healthcare providers across all functions of patient access and revenue cycle management. Its cloud-based software, powered by AI and automation, is leveraged by experienced consultants and billing specialists across the U.S., India, and the Philippines. Infinx helps 172,000 healthcare professionals across 4,000 facilities capture more revenue, stay ahead of changing regulations and payer guidelines, and focus on patient care.

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Source: Company press release.

Categories: Acquisition