Source: The Economic Times
Global private equity powerhouse Carlyle Group has signed an agreement to acquire a majority stake in Knack Global, a Florida-based revenue cycle management (RCM) solutions company, in a deal valuing the firm at around $500 million, according to The Economic Times.
The acquisition marks a major change in ownership, with Carlyle expected to replace current backer LKCM Headwater Investment, which has overseen Knack’s growth in recent years.
Knack Global’s Position in the Healthcare Ecosystem
Knack Global specializes in AI-driven automation and tech-enabled revenue cycle management services, helping healthcare providers streamline workflows, reduce inefficiencies, and maximize profitability. Its model combines global delivery teams with customizable end-to-end or standalone solutions, making it a fast-scaling partner for hospitals, clinics, and physician networks.
The company has expanded aggressively through strategic acquisitions, a hallmark of private equity growth strategies:
- March 2025 – Acquired PPM Partners
- January 2025 – Purchased HealthyBOS
- August 2024 – Took over Merrick Management
This roll-up approach has positioned Knack Global as a significant player in the U.S. healthcare services sector, at a time when demand for digital-first, cost-efficient support is growing rapidly.
Carlyle’s Broader Healthcare Portfolio
Carlyle currently holds 49 healthcare-focused affiliates, spanning pharmaceuticals, healthcare IT, and support services. The investment in Knack comes shortly after the group’s backing of Ingentis, a human resources AI company, signaling its intent to deepen exposure to technology-driven efficiency platforms.
Carlyle’s model often involves cross-selling capabilities across its portfolio companies, suggesting that Knack Global may benefit not only from capital infusion but also from integration with other Carlyle-backed ventures.
Industry and Policy Context
The deal underscores the continuing trend of private equity firms moving deeper into healthcare and technology convergence, two industries with both growth potential and regulatory scrutiny. While the space remains competitive, investors see revenue cycle optimization as a critical need for U.S. healthcare providers, making companies like Knack Global attractive long-term bets.
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IMAGE: Reuters
