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- CorroHealth
CorroHealth Funding, Investors & Competitors
CorroHealth has raised $376M across 5 funding rounds, most recently a $50M undisclosed-stage round in October 2023.
Last CorroHealth funding round
$50M
Undisclosed stage · Oct 2023
Cumulative funding CorroHealth raised
$376M
across 5 funding rounds
About CorroHealth
CorroHealth is a healthcare technology and services company based in Plano, Texas, that provides revenue cycle management and clinically led analytics for hospitals, physician groups, and health plans. Its offerings span coding, documentation review, charge capture, and revenue integrity solutions, delivered through integrated technology platforms alongside outsourced services. The company employs more than 11,000 people across sites in the US, India, and UK, helping healthcare providers improve financial performance and compliance.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
CorroHealth Funding History
CorroHealth has raised a total of $376M across 5 funding rounds.
CorroHealth's first fundraising round was a $265M undisclosed-stage round in January 2020. The most recent completed round was a $50M undisclosed-stage round in October 2023.
CorroHealth funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Oct 2023 | Undisclosed stage | $50M | CorroHealth is a provider of technology-enabled solutions for the healthcare industry, focusing on clinically led healthcare analytics, revenue cycle management, and services for physicians, hospitals, and health plans. It employs over 11,000 people across 10 locations including the US, India, and UK, offering integrated solutions with intelligent technology and scalability. The company raised $53.2M over 4 or 5 rounds. Recent developments include a strategic partnership with Patient Square Capital announced around Nov 2024 to accelerate growth and expand technology/services, and an acquisition of Xtend Healthcare noted in Aug 2024 context. |
| May 2022 | Undisclosed stage | $17M | - |
| Jul 2021 | Seed | $3M | CorroHealth raised funding in a Seed round on July 7, 2021. The company has raised a total of $53.2M over 4 or 5 rounds, with investors numbering 4. |
| Jan 2021 | Undisclosed stage | $42M | CorroHealth is a healthcare revenue cycle management company offering services like coding, documentation review, charge capture, and revenue integrity solutions, as indicated by case studies and platform mentions in industry updates. CorroHealth has been involved in acquisitions, such as acquiring ParaRev to enhance mid-cycle revenue cycle tools, strengthening their offerings in revenue optimization and compliance. A case study highlights their analysis identifying $24 per encounter in potential revenue improvement for a children's hospital using proprietary pediatric methodology. Recent developments include a Private Equity round in October 2024 and integration with platforms like EPIC for charge capture and revenue integrity. |
| Jan 2020 | Undisclosed stage | $265M | CorroHealth, formerly known as Coding Solutions, operated as a joint venture mentioned in a 2020 SEC filing by Cannae Holdings, with an investment noted as of January 27, 2020, at fair value. The company focuses on healthcare services, potentially in coding and revenue cycle management. CorroHealth has raised a total of $53.2M over 4 or 5 funding rounds, with the latest being a Private Equity round on October 24, 2024. Earlier rounds include an Acq - Fin on September 30, 2020, an unattributed round on October 5, 2023, and a Seed on July 7, 2021. Later developments include acquisitions like Xtend Healthcare in a private equity context. |
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Start Free TrialAcquisitions by CorroHealth
CorroHealth has acquired 6 companies to date.
Last acquisition by CorroHealth was on September 19th 2024. CorroHealth acquired Xtend Healthcare for $365M.
Latest Acquisitions by CorroHealth
| Description | Xtend Healthcare is a provider of revenue cycle management software and services for U.S. healthcare providers. The platform automates patient registration, eligibility verification, coding, charge capture, claims submission, and remittance posting. Headquartered in Meridian, Idaho, Xtend serves hospitals and physician groups with tools compliant to HIPAA standards, focusing on reducing days in accounts receivable. | - | Versalus Health is a healthcare revenue cycle management firm using data analytics. The company identifies and implements improvements in clinical billing and collections for providers. Versalus Health operates nationwide with software tailored to hospital systems. | - | |
| HQ Country | |||||
| HQ City | Nashville, TN | - | Philadelphia, PA | - | |
| Deal Date | 19 Sep 2024 | 13 Aug 2024 | 13 Dec 2022 | 25 May 2022 | |
| Valuation | $365M | $369M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all CorroHealth acquisitions and their M&A valuation multiples. Start Free Trial | |||||
CorroHealth Competitors
CorroHealth competitors include listed companies like Waystar, Craneware, CareCloud and IQVIA, and private ones like Cohere Health and Pearl Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.1B | $390M | $5.1B | 5.2x | ||
| Private | - | - | $750M | - | ||
| Private | - | - | $733M | - | ||
| Publicly listed | $206M | $59M | $589M | 2.7x | ||
| Publicly listed | $120M | $28M | $95M | 1.1x | ||
| Publicly listed | $16B | $3.4B | $44B | 3.4x |
CorroHealth Public Comps
CorroHealth is still privately-owned, but its public comps include IQVIA, Veeva, IDEXX Laboratories, Roper Technologies, GE HealthCare, Tenet Healthcare, ICON plc, Pro Medicus, United Imaging and Glaukos.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $16B | $3.4B | 3.6x | 3.4x | 17.2x | 14.8x | |||
| $3.2B | $965M | 11.1x | 10.2x | 36.9x | 22.4x | |||
| $4.3B | $1.5B | 9.5x | 8.9x | 27.1x | 24.9x | |||
| $7.9B | $3.2B | 6.1x | 5.7x | 15.2x | 14.6x | |||
| $21B | $3.7B | 1.8x | 1.8x | 10.1x | 10.0x | |||
| $21B | $4.5B | 1.7x | 1.6x | 8.1x | 7.5x | |||
| $8.3B | $816M | 1.9x | 1.9x | 19.2x | 11.3x | |||
| $186M | $147M | 66.6x | 62.7x | 84.4x | 77.6x | |||
This data is available for Pro users. Sign up to see all CorroHealth competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CorroHealth
| When was CorroHealth founded? | CorroHealth was founded in 2019. |
| Where is CorroHealth headquartered? | CorroHealth is headquartered in United States. |
| Is CorroHealth publicly listed? | No, CorroHealth is a private company. |
| How much funding has CorroHealth raised? | CorroHealth has raised $376M across 5 funding rounds. |
| What was CorroHealth's last funding round? | CorroHealth's last funding round was a $50M undisclosed-stage round in October 2023. |
| Which companies are comparable to CorroHealth? | Companies comparable to CorroHealth include Waystar, Cohere Health, Pearl Health, Craneware, CareCloud and IQVIA. |
| How many companies has CorroHealth acquired? | CorroHealth has acquired 6 companies, including Xtend Healthcare, Navient (healthcare services unit), Versalus Health, Aergo Solutions and Healthcare Financial Resources. |
| What was the largest acquisition by CorroHealth? | The $369M acquisition of Navient (healthcare services unit) in August 2024 is the largest acquisition CorroHealth has made to date. |
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