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- TruBridge
TruBridge Acquisition, Valuation & Financials
TruBridge was acquired by IKS Health for $565M in April 2026, a 1.6x multiple on $347M of revenue.
TruBridge revenue at acquisition
$347M
Last twelve months · Apr 2026
TruBridge revenue multiple at acquisition
1.6x
EV/Revenue · Apr 2026
TruBridge EBITDA multiple at acquisition
8.2x
EV/EBITDA · Apr 2026
About TruBridge
TruBridge Inc is a provider of healthcare solutions and services for community hospitals, clinics, and other healthcare systems. It provides services such as Electronic health records & information systems, revenue cycle management, population health, and data management, etc. The segments of the company are Revenue Cycle Management (RCM), (ii) Electronic Health Records (EHR), and (iii) Patient Engagement The company derives maximum revenue from the RCM segment.
Founded
1979
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Services
Revenue
$347M (Apr 2026)
Valuation
$565M (acquired Apr 2026)
TruBridge Acquisition
TruBridge was acquired by IKS Health for $565M on 22 April 2026.
The acquisition price implies a 1.6x revenue and 8.2x EBITDA multiple on $347M of revenue.
Inventurus Knowledge Solutions, Inc. (IKS Health), the U.S. subsidiary of Inventurus Knowledge Solutions Limited (NSE: IKS), entered into a definitive agreement on April 23, 2026, to acquire TruBridge, Inc. for an enterprise value of approximately $600 million, with multiple sources citing $557 million. The all-cash transaction offers TruBridge shareholders $26.25 per share. The deal is financed initially through $600 million in debt for a 5-year term and is expected to close in the third calendar quarter of 2026, subject to shareholder approvals and Hart-Scott-Rodino clearance. Termination fees include $12.3 million payable by TruBridge and $24.6 million reverse termination fee by IKS under certain conditions. The acquisition integrates TruBridge's revenue cycle management (RCM) and electronic health record (EHR) SaaS capabilities into IKS Health's care enablement platform, targeting rural and community-based healthcare providers. It unlocks $575 million in cross-sell potential, boosts EPS in FY27, and creates a combined entity with pro forma FY2025 revenue of $698 million and EBITDA of $159 million. TruBridge contributes $347 million in revenue and $69 million in adjusted EBITDA. TruBridge, previously NASDAQ-listed (TBRG) and headquartered in Mobile, AL, provides RCM and EHR solutions with FY2025 revenue of $346.8 million and adjusted EBITDA of $68.7 million per its annual filing. Post-acquisition, TruBridge will be delisted and operate as a wholly owned subsidiary of IKS Health's U.S. unit.
| Acquirer | Date | Type | Price | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|
| 22 Apr 2026 | Strategic M&A | $565M | 1.6x | 8.2x |
TruBridge as a Public Company
TruBridge traded as STU: PS1 before it was taken private. Its acquisition was announced in April 2026. July 2026 is its last month on record as a listed company, with a market cap of $394M and an enterprise value of $527M.
Over the 4 years before that, its market cap fell from $496M in July 2022 to $394M.
TruBridge market cap while listed
TruBridge EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jul 2026 | $394M | - | - | - | - | - |
| Jul 2025 | $313M | $347M | $59M | 17% | 1.4x | 8.0x |
| Jul 2024 | $168M | $338M | $46M | 14% | 1.0x | 7.6x |
| Jul 2023 | $381M | $339M | $59M | 17% | 1.5x | 8.9x |
| Jul 2022 | $496M | $301M | $56M | 19% | 2.1x | 11.2x |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month TruBridge traded.
Acquisitions by TruBridge
TruBridge has acquired 5 companies to date.
Last acquisition by TruBridge was on October 16th 2023. TruBridge acquired Viewgol for $36M.
Latest Acquisitions by TruBridge
| Description | Viewgol advances revenue cycle management for healthcare providers through Analytics, Engage, and Comprehensive suites. Processing massive datasets in seconds, the platform visualizes payer trends, enforces accountability, and optimizes reimbursements via business intelligence and payer science teams. | Healthcare Resource Group (HRG) is a Knoxville-based hospital and health care consulting firm that delivers auditing, revenue cycle management, and compliance services to healthcare providers nationwide. HRG conducts Medicare cost report audits, third-party reimbursement reviews, and operational assessments for hospitals and physician groups. The firm assists clients in maximizing reimbursements from government payers and private insurers while ensuring regulatory adherence. With expertise in managed care contracting and denial management, HRG supports facilities in optimizing financial performance. | - | Get Real Health is a health IT company providing patient engagement via InstantPHR platform. Portland, Oregon-headquartered, it integrates with HealthVault for major hospitals and non-profits. Clients include government agencies using its tools for chronic disease management. | |
| HQ Country | |||||
| HQ City | Dallas, TX | Spokane, WA | - | Washington, DC | |
| Deal Date | 16 Oct 2023 | 1 Mar 2022 | 12 May 2021 | 25 Apr 2019 | |
| Valuation | $36M | $36M | $61M | $25M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all TruBridge acquisitions and their M&A valuation multiples. Start Free Trial | |||||
TruBridge Competitors
TruBridge competitors include listed companies like Heren Health, Craneware, Veradigm and Phreesia, and private ones like HeyDonto and Jane Software.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $200M | - | ||
| Publicly listed | $65M | $11M | $543M | - | ||
| Publicly listed | $206M | $59M | $589M | 2.7x | ||
| Private | $100M | - | $600M | 6.0x | ||
| Publicly listed | $588M | $54M | $523M | 0.9x | ||
| Publicly listed | $481M | $27M | $638M | 1.3x |
TruBridge Public Comps
TruBridge is no longer listed, but its public comps include Heren Health, Craneware, Veradigm, Phreesia, B-Soft Co., Software Service, Vitalhub, Goodwill E-Health Info, EM Systems Co. and Eucalia.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65M | $11M | 7.4x | - | 42.4x | - | |||
| $206M | $59M | 2.8x | 2.7x | 9.7x | 8.7x | |||
| $588M | $54M | 0.9x | 0.9x | 9.8x | 6.8x | |||
| $481M | $27M | 1.3x | 1.3x | 23.2x | 5.3x | |||
| $157M | ($37M) | 4.7x | 4.8x | (20.0x) | (20.0x) | |||
| $272M | $60M | 0.9x | 0.8x | 4.1x | 5.9x | |||
| $78M | $10M | 3.2x | 2.7x | 23.5x | 10.7x | |||
| $60M | ($35M) | 5.8x | 5.6x | (10.1x) | (19.1x) | |||
This data is available for Pro users. Sign up to see all TruBridge competitors and their valuation data. Start Free Trial | ||||||||
Common questions about TruBridge
| When was TruBridge founded? | TruBridge was founded in 1979. |
| Where is TruBridge headquartered? | TruBridge is headquartered in United States. |
| Is TruBridge publicly listed? | No, TruBridge was acquired by IKS Health in April 2026. |
| Who acquired TruBridge? | TruBridge was acquired by IKS Health in April 2026. |
| How much was TruBridge acquired for? | TruBridge was acquired for $565M in April 2026, a 1.6x revenue multiple. |
| Which companies are comparable to TruBridge? | Companies comparable to TruBridge include HeyDonto, Heren Health, Craneware, Jane Software, Veradigm and Phreesia. |
| What was TruBridge's market cap before the acquisition? | TruBridge had a market cap of $394M in July 2026, its last month on record as a listed company. |
| How many companies has TruBridge acquired? | TruBridge has acquired 5 companies, including Viewgol, Healthcare Resource Group (HRG), TruCode, Get Real Health and Healthland. |
| What was the largest acquisition by TruBridge? | The $250M acquisition of Healthland in November 2015 is the largest acquisition TruBridge has made to date. |
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