Waystar Explores Sale to Return to Private Ownership

Healthcare software provider Waystar is exploring strategic options, including a potential sale, which would return the company to private ownership. The company provides payment management technology for hospitals and doctors and has hired investment bank Evercore to advise on the early-stage process.

This move comes two years after Waystar's New York stock market listing in 2024, a process backed by EQT, the Canada Pension Plan Investment Board, and Bain Capital. The company's market value has declined to approximately $4.8 billion following a 24% drop in share price this year. This decline was driven by a broader software sector selloff and investor concerns regarding disruption from artificial intelligence.

Following reports of the potential sale on September 15, Waystar shares rose more than 8% in early trading. Major shareholders include EQT AB, which holds a 13% stake, CPP Investments with 10%, and BlackRock Institutional Trust Company with 8%.