Healthtech unicorn Innovaccer completes ESOP buyback worth Rs 600 crore: Report

Healthtech unicorn Innovaccer has completed an employee secondary buyback worth Rs 600 crore (around $75 million), providing liquidity to current and former employees holding vested stock options, according to an Inc42 report.

CEO Abhinav Shashank said the buyback was aimed at converting employee ownership into tangible outcomes, even as the company continues to invest aggressively in its platform and customers.

“If people are helping build long-term value every day, they should have the opportunity to participate in that value along the way. Liquidity and secondary buybacks are simply an extension of our belief in people, not just as employees, but as long-term partners in the company’s journey,” Shashank told Inc42.

An ESOP buyback allows a company to repurchase shares held by employees that originate from exercised stock options, offering liquidity without issuing new shares or diluting existing ownership.

Founded in 2014 by Shashank, Kanav Hasija and Sandeep Gupta, Innovaccer operates a healthcare data and analytics platform that helps hospitals, health systems and insurers unify clinical, financial and operational data. Its Healthcare Intelligence Cloud and Data Activation Platform integrate information from electronic health records, claims and other systems into a single source of truth.

The California-headquartered company counts CommonSpirit Health, Kaiser Permanente and Banner Health among its key customers and has built a strong footprint in the US healthcare market, working closely with provider networks and payers.

The buyback follows Innovaccer’s $275 million Series F funding round last year, which comprised a mix of primary and secondary capital. The round saw participation from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente and M12. At the time, the company said the capital would be deployed to fuel expansion, introduce new AI and cloud capabilities, and scale its developer ecosystem.

Since then, Innovaccer has stepped up mergers and acquisitions to deepen its product stack. In 2024, it acquired patient experience and CRM platform Cured and Pharmacy Quality Solutions, which focuses on pharmacy performance.

In September 2025, the company bought AI-enabled specialty care startup Story Health to strengthen specialty care management, followed by the acquisition of Humbi AI to add actuarial and contracting copilots.

Over the past year, Innovaccer has also rolled out three new products. These include Innovaccer Gravity, a healthcare intelligence platform designed to help organisations operationalise AI by unifying data, analytics and AI workflows; Flow, an AI-driven prior authorisation solution aimed at reducing revenue-cycle friction and accelerating payer–provider workflows; and Comet, an AI-powered access centre that automates scheduling, inquiries and front-office interactions to improve patient access.

For the financial year ended March 2025, Innovaccer reported operating revenue of Rs 387.71 crore and a profit of Rs 36.1 crore, underscoring its push towards sustainable growth even as it expands through acquisitions and product launches.