Waystar explores strategic options, including a potential sale

Waystar explores strategic options, including a potential sale

U.S. healthcare software provider Waystar is exploring a range of strategic options, including a potential sale of the company. If a deal moves forward, Waystar could return to private ownership just two years after its 2024 stock market listing.

The company has hired investment bank Evercore to advise on the process, while Barclays is also involved as an adviser.

According to Reuters, the process is still at an early stage. No final decision has been made, and a potential sale may ultimately not materialize.

Waystar provides technology solutions that help hospitals and physicians automate payment management, revenue cycle operations, and administrative processes. The company has positioned itself primarily as a healthcare technology provider rather than a traditional healthcare services business.

Following the Reuters report, Waystar shares rose more than 8%, bringing the company’s market value to approximately $5.2 billion. However, its shares had been under pressure earlier this year amid a broader selloff in the software sector.

Waystar was formed in 2017 through the merger of Zirmed and Navicure and went public in 2024.

Its largest shareholder remains EQT with a 13% stake, followed by the Canada Pension Plan Investment Board with 10% and BlackRock Institutional Trust Company with 8%.