B2B SaaS fintech firm Perfios acquires healthcare information exchange platform IHX

Bengaluru-based B2B SaaS fintech firm Perfios has announced the strategic acquisition of IHX, a healthcare information exchange platform, marking its latest move to deepen its technology capabilities across sectors.

This acquisition is expected to transform the health insurance claims landscape by combining Perfios’ expertise in data intelligence with IHX’s strong ecosystem reach in healthcare.

IHX's market presence

IHX currently processes more than 40% of all cashless health insurance claims in India, managing over 10 million transactions annually worth $1 billion. Its platform connects 30,000 hospitals across 1,200 locations with more than 30 insurers, including Reliance Hospital, DY Patil Hospital, MGM Healthcare, and Jaslok Hospital.

IHX acts as a vital link between healthcare providers and insurers, offering real-time digital integration and serving as a gateway to India's $14 billion health insurance market and the broader $600 billion healthcare market.

Leadership comments

Speaking on the acquisition, Sabyasachi Goswami, CEO of Perfios, 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."

He added, "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."

Mahesh Nagaraj, Managing Director of IHX, expressed excitement about the next phase of growth, stating, "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."

"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."

Part of the broader expansion strategy

This acquisition is Perfios' third in the past three months, following its purchase of Clari5, a banking fraud detection platform, and CreditNirvana, an AI-powered debt collections platform.

In previous years, Perfios also acquired Karza Technologies, FintechLabs Technologies, and the behavioural insights startup Fego.ai. IHX, co-founded in 2020 by Mayank Tiwari, Ajay Bakshi, Sanjay Kalra, Ambuj Kashyap, and Mahesh Nagaraj, will continue to operate independently under its own brand and leadership.

Perfios, which operates across 18 countries, reported a 37% rise in revenue to Rs 558 crore in FY24, compared to Rs 407 crore in FY23, as it continues to scale its global footprint.