Waystar Reprices Term Loan, Boosts AI in Healthcare Payments with Iodine Acquisition

Waystar has repriced its term loan, although the terms of the deal are not disclosed. The company also recently acquired Iodine Software for $1.25 billion and reported Q2 adjusted earnings and revenue growth. Waystar's stock price has fluctuated over the past few months, with recent insider sales and a filing for a $75.7 million stock sale. The company's stock options and common stock are subject to a lock-up agreement ending on July 14, 2025.

Waystar (Nasdaq: WAY) has recently secured more favorable terms on its term loan, a move that underscores the company's strong financial position and robust cash flow generation. The repricing of the first lien term loan due October 2029 reflects high lender demand and positions Waystar to accelerate its growth strategy [1].

The company successfully reduced the interest rate on the term loan to adjusted SOFR +2.00%, a 25-basis-point reduction from prior terms. Additionally, Waystar will add $250 million of incremental term loans under the same terms, subject to the closing of the previously announced Iodine Software acquisition. This acquisition, valued at $1.25 billion, is part of Waystar's broader strategy to transform healthcare payments [2].

Waystar's stock price has been subject to fluctuations over the past few months. Insider sales and a recent filing for a $75.7 million stock sale have contributed to these movements. The company's stock options and common stock are also subject to a lock-up agreement ending on July 14, 2025, which may influence future stock price volatility [2].

Despite these market dynamics, Waystar's financial performance has been robust. The company reported strong Q2 2025 numbers, with revenue growing by 15.4% year-over-year to $270.65 million, and earnings per share (EPS) of $0.36, beating market estimates [2].

Waystar's mission-critical software is designed to simplify healthcare payments, enabling providers to prioritize patient care and optimize financial performance. The company serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals list [1].

References:
[1] https://www.prnewswire.com/news-releases/waystar-enhances-financial-flexibility-with-term-loan-repricing-302528217.html
[2] https://seekingalpha.com/article/4811908-waystar-posts-impressive-q2-numbers-why-i-maintain-buy-rating