Perfios strengthens portfolio with IHX, its third acquisition this year

Goswami explained that deal would tackle ecosystem-level challenges such as lack of real-time transparency, inefficiencies in claim processing and the rising cost burden in healthcare for customers

Perfios, the business-to-business software-as-a-service firm, has acquired healthcare information exchange platform IHX for an undisclosed sum, its third acquisition in 2025. The unicorn had acquired debt management and collections platform CreditNirvana and banking financial crime management firm Clari5 in February.

 

IHX is partnered with 30,000 hospitals across 1,200 locations in India. The company handles around 40 per cent of cashless claims in the country, processing 10 million transactions annually that represent $1 billion in claims.

 

“We will be creating a transparent, collaborative infrastructure that will work for patients, hospitals, and insurers together. Perfios has the tech and data analytics whereas IHX has built the network and gotten all the three parties on the same platform,” said Sabyasachi Goswami, chief executive officer (CEO), Perfios, told Business Standard. 

 

Goswami explained that the deal would tackle ecosystem-level challenges such as lack of real-time transparency, inefficiencies in claim processing, and the rising cost burden in healthcare for customers.

 

“The combination of Perfios’ cutting-edge technology stack, advanced decision analytics, and global scale (along) 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,” said Mahesh Nagaraj, managing director, IHX.

 

Asked if the company was looking to acquire other firms related to banking, financial services, and insurance, he said the company was investing in research and development, risk analytics, and artificial intelligence (AI).

 

“All that we have built will get transformed with AI models. We have built a lot of underwriting analytics using AI. On the insurance-tech side, we have built and are in process of building many use cases through AI from a claim process and automation perspective to bring in efficiency in the hospital process,” he added. 

 

On plans for an initial public offering (IPO), Goswami said that he had not set a timeline to go public yet. “We keep discussing and deliberating while understanding the market which is a natural process for any growing company. I cannot comment on (IPO) but I would say at the right time when we are ready you will be hearing from us.” 

 

The company had acquired banking and financial intelligence provider Karza in 2022. Perfios raised $80 million in a series D funding round in March last year, according to market intelligence platform Tracxn. The firm has raised $450 million in funding to date, data shows.