were trading up 1.73 per cent at ₹1,460.10 on the by 12.26 pm on Friday, with the stock having touched an intraday high of ₹1,573.80 earlier in the session — a near 10 per cent jump from Thursday’s close of ₹1,435.30 — before pulling back sharply as sellers stepped in.
The company announced a definitive agreement after market hours on Thursday, April 23, under which IKS Health’s US subsidiary will acquire TruBridge, Inc. (NASDAQ: TBRG), a provider of revenue cycle management and electronic health record solutions for rural and community hospitals in the United States, at $26.25 per share in cash. The transaction values TruBridge at an enterprise value of approximately $557 million.
The stock opened at ₹1,476.90 and has so far seen traded volumes of 33.35 lakh shares worth ₹503.84 crore, pointing to unusually heavy activity for a scrip with a free-float market cap of around ₹7,192 crore. Sell orders currently dominate at 65 per cent of the order book versus 35 per cent on the buy side, suggesting the initial enthusiasm is meeting resistance at higher levels.
IKS plans to fund the deal primarily through roughly $600 million in new debt — a term loan underwritten by Citibank, JPMorgan Chase, and Deutsche Bank — placing post-closing leverage at approximately three times the combined entity’s EBITDA. The acquisition requires approvals from shareholders of both companies as well as US antitrust clearance, and is expected to close in the second quarter of fiscal year 2027.
The strategic logic, as laid out in investor documents filed with BSE and NSE, centres on combining TruBridge’s EHR platform — which the company describes as a “system of record” serving over 700 rural hospital clients — with IKS Health’s AI-driven care enablement platform, which it positions as a “system of action.” Management is targeting combined EBITDA of approximately ₹3,000 crore by FY2030, against a current consolidated figure of around ₹1,000 crore. The deal is projected to be earnings-per-share accretive from the first full year post-closing.
IKS Health also identified a cross-sell opportunity of over $575 million within TruBridge’s existing client base, a key plank of its revenue acceleration thesis.
The stock remains well below its 52-week high of ₹1,876 hit in June 2025 and is down 13.21 per cent year-to-date, underperforming the Nifty 500’s 5.62 per cent decline over the same period.