Waystar will acquire the transaction services technology business from Pittsburgh-based UPMC's Ovation Revenue Cycle Services.
As part of the transaction, Waystar will integrate Ovation's technology into its cloud-based platform via a acquisition with UPMC.
Ovation's technology uses advanced algorithms to help streamline the claims management process for healthcare organizations and providers. It will be available to Waystar's clients, including more than 450,000 providers and 750 health systems and hospitals.
"Waystar is thrilled to extend Ovation's technology innovation to providers across the full spectrum of the U.S. healthcare system," Waystar CEO Matthew Hawkins said in a prepared statement. "UPMC and Ovation have delivered unique, value-added solutions that we are excited to include as part of the Waystar platform."
The Ovation acquisition comes weeks after Waystar's acquisition of Connance.
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