Carlyle Group has acquired a majority stake in healthcare revenue cycle management companies Knack RCM and EqualizeRCM, marking a further expansion into healthcare services, according to a company statement, according to a report by Bloomberg.
Financial terms have not been disclosed.
As part of the transaction, Knack founder Rajiv Sharma and EqualizeRCM co-founder Nagi Rao will reinvest a portion of their proceeds into a newly formed combined platform. The structure is designed to support broader scale, enhanced operational leadership and the development of artificial intelligence-driven capabilities.
The two companies provide revenue cycle management services across a range of healthcare clients, including physician groups, durable medical equipment providers, rural hospitals and other specialised medical segments.
EqualizeRCM co-founder Rao said the partnership aims to integrate advisory capabilities with advanced analytics and global delivery operations, enabling more tailored solutions across complex reimbursement environments.
Knack RCM chief executive Gautam Barai said the combined platform would focus on addressing more intricate aspects of the revenue cycle, including rural cost reporting, durable medical equipment intake processes and complex clinical billing areas such as anaesthesia.
The acquisition reflects Carlyle’s continued interest in expanding its presence in healthcare services, particularly in technology-enabled outsourcing and data-driven operating models. The firm indicated it expects to pursue additional opportunities in the revenue cycle management sector going forward.
