AQuity Solutions Sold to IKS Health

In October 2023, Bass, Berry & Sims represented AQuity Solutions, in its sale to IKS Health – a technology-backed care enablement platform that offers administrative, clinical and operational support to healthcare systems. The transaction was valued at $200 million.

The deal team was led by Frank Pellegrino, and included corporate attorneys Tyler Hueseman, Dixon Babb, Juedon Kebede and Logan McCallie. Todd Ervin and Taylor Curtis advised on tax matters. Scott Reid and Marina Carrier advised on financing matters. Thad McBride and Faith Dibble advised on CFIUS matters.

Frank Pellegrino said of the deal, “we are thrilled with this result for our friends at AQuity and are excited to support them and IKS in their ongoing success.”

To read the full press release of the transaction, click here. The transaction was highlighted in several media outlets, including:

AQuity Solutions delivers superior clinical and financial results to healthcare provider clients through outsourced services. Headquartered in Cary, North Carolina, AQuity employs over 7,000 clinical documentation specialists throughout the U.S., India, Australia, Canada, and the U.K. for physician office services, provider documentation solutions, coding and revenue cycle management, and additional documentation services. With over 40 years of experience, the company is recognized by KLAS and Black Book as a leading vendor in multiple disciplines.

IKS Health takes on the chores of healthcare—spanning administrative, clinical, and operational burdens—so that clinicians can focus on their core purpose: delivering great care. Combining pragmatic technology and dedicated experts, IKS enables stronger, financially sustainable enterprises. IKS’s Care Enablement Platform delivers data-driven value and expertise across the care journey, and IKS is a partner for clinician enterprises looking to effectively scale, improve quality and achieve cost savings through forward-thinking solutions. Founded in 2006, IKS’s global workforce supports large health systems across the United States.

Deal Recognition

This deal was named a finalist in the following categories for the 23rd Annual M&A Advisor Awards in 2024:

  • Healthcare/Life Sciences Deal of the Year ($100MM to $1B)
  • M&A Deal of the Year ($100MM to $250MM)

Bass, Berry & Sims had four transactions recognized among nine different categories for The M&A Advisor Awards in 2024.

This transaction was also named a finalist in the D CEO 2024 Mergers & Acquisitions Awards in the $50-249 Million category. D CEO and the Association for Corporate Growth-DFW Mergers & Acquisitions Awards honor the top acquisitions, dispositions, and other financial transactions in North Texas in 2023. Read more about the 2024 finalists here.

In October 2023, Bass, Berry & Sims represented AQuity Solutions, in its sale to IKS Health – a technology-backed care enablement platform that offers administrative, clinical and operational support to healthcare systems. The transaction was valued at $200 million.

The deal team was led by Frank Pellegrino, and included corporate attorneys Tyler Hueseman, Dixon Babb, Juedon Kebede and Logan McCallie. Todd Ervin and Taylor Curtis advised on tax matters. Scott Reid and Marina Carrier advised on financing matters. Thad McBride and Faith Dibble advised on CFIUS matters.

Frank Pellegrino said of the deal, “we are thrilled with this result for our friends at AQuity and are excited to support them and IKS in their ongoing success.”

To read the full press release of the transaction, click here. The transaction was highlighted in several media outlets, including:

AQuity Solutions delivers superior clinical and financial results to healthcare provider clients through outsourced services. Headquartered in Cary, North Carolina, AQuity employs over 7,000 clinical documentation specialists throughout the U.S., India, Australia, Canada, and the U.K. for physician office services, provider documentation solutions, coding and revenue cycle management, and additional documentation services. With over 40 years of experience, the company is recognized by KLAS and Black Book as a leading vendor in multiple disciplines.

IKS Health takes on the chores of healthcare—spanning administrative, clinical, and operational burdens—so that clinicians can focus on their core purpose: delivering great care. Combining pragmatic technology and dedicated experts, IKS enables stronger, financially sustainable enterprises. IKS’s Care Enablement Platform delivers data-driven value and expertise across the care journey, and IKS is a partner for clinician enterprises looking to effectively scale, improve quality and achieve cost savings through forward-thinking solutions. Founded in 2006, IKS’s global workforce supports large health systems across the United States.

Deal Recognition

This deal was named a finalist in the following categories for the 23rd Annual M&A Advisor Awards in 2024:

  • Healthcare/Life Sciences Deal of the Year ($100MM to $1B)
  • M&A Deal of the Year ($100MM to $250MM)

Bass, Berry & Sims had four transactions recognized among nine different categories for The M&A Advisor Awards in 2024.

This transaction was also named a finalist in the D CEO 2024 Mergers & Acquisitions Awards in the $50-249 Million category. D CEO and the Association for Corporate Growth-DFW Mergers & Acquisitions Awards honor the top acquisitions, dispositions, and other financial transactions in North Texas in 2023. Read more about the 2024 finalists here.