The Carlyle Group has announced its acquisition of majority stakes in two prominent US healthcare revenue cycle management (RCM) providers, Knack and Equalize, for a total investment of $600 million. This strategic acquisition aims to create a comprehensive, AI-native, global RCM platform. Carlyle had previously acquired a majority stake in Knack at a $500 million valuation and has now purchased Equalize for $200 million. The firm plans to invest $400 million in total across both companies, with the combined platform expected to enhance operational scale and capabilities in the rapidly growing healthcare sector, which is expanding at 12% annually. Gautam Barai, former chief operating officer at WNS, has been appointed to lead the new platform, which aims for a public listing within the fiscal year. The founders of both companies will reinvest a portion of their proceeds to remain involved in the platform's growth. The combination of Knack and Equalize is expected to improve service delivery for various healthcare providers, including rural hospitals and specialty segments, while leveraging advanced AI tools to optimize revenue cycle processes.