Health tech company RevSpring has agreed to buy Kyruus Health to combine patient engagement and payment technology with provider data, search and scheduling solutions, the companies announced Tuesday.
RevSpring, which is owned by private equity firm Frazier Healthcare Partners, says it facilitates over 700 million digital communications and more than 1 billion printed communications each year. The company processes more than 60 million payment transactions and collects over $14 billion in patient payments annually.
The company's technology supports patient outreach, intake and check-in, billing and payments, and revenue cycle processes for provider organizations.
Financial terms of the deal were not disclosed.
With the acquisition of Kyruus, which is expected to close in the fourth quarter, RevSpring's combined capabilities will enable patients to find, access and pay for care in a single experience, executives said.
“What excites me most about this announcement is that we’re connecting the dots across parts of healthcare that have been too fragmented for too long," RevSpring’s CEO Scott MacKenzie told Fierce Healthcare via email. "Patients don’t think of themselves as a ‘member’ in one moment and a ‘patient’ in another. They just want a clear, simple way to find care, stay engaged, and understand what they owe. By bringing together Kyruus’ provider data and scheduling tools with RevSpring’s engagement and payments platform, we can deliver that clarity in a way no one else is doing today."
Kyruus connects more than 500,000 providers across 1,400 hospitals and 550 medical groups as well as members across 100 health plan brands.
RevSpring expects the Kyruus acquisition to deliver immediate value by enhancing provider directory accuracy and boosting conversion from search to payment, executives said.
RevSpring will able to use its technology to personalize an individual's healthcare experience, from first search to financial resolution, according to the company.
"For healthcare organizations and providers, it means less friction across the board," MacKenzie said. "Providers and payers get one platform that helps people move from search to scheduling to financial resolution without all the usual handoffs. That’s good for patients, and it’s good for the bottom line because it improves satisfaction, reduces no-shows and makes it easier for patients to pay their healthcare bills."
He added, "At a time when health systems are under pressure to do more with less, we see this as a way to both strengthen relationships with patients and improve operational efficiency.”
The companies cited several strategic benefits to the acquisition. With Kyruus' data management capabilities, RevSpring can unify provider, plan and patient data to deliver more personalized communications and guidance. Further, a unified platform will reduce integration lift across access, intake, communications and payments to simplify operations.
"Our mission has always been to connect people to the right care," Graham Gardner, M.D., founder and CEO of Kyruus Health, said in a statement. "Uniting with RevSpring enables us to enrich that mission by integrating with a financial experience that brings clarity and simplicity to the entire care journey."
RevSpring was formed in 2012 through the merger of PSC and Dantom and appointed MacKenzie in 2019. The company was acquired by private equity firm GTCR in late 2016 alongside a $400 million equity capital commitment for its platform.
It was sold to Frazier Healthcare Partners in March 2024.
Kyruus has a few acquisitions under its belt. In 2022, it bought Epion Health, a patient engagement platform. Two years prior, in 2020, it acquired HealthSparq, a healthcare guidance and transparency technology company serving the health payer market, from Cambia Health Solutions.