LeanTaaS Inc., a Silicon Valley-based provider of AI-powered and software-as-a-service-based capacity management and patient flow software for health systems and backed by Bain Capital Private Equity, has bought Hospital IQ, an intelligent automation services company for hospitals.

The deal values the combined company at over $1 billion in enterprise value and looks to allow the company to power its operations across more than 180 U.S. health systems. Together, LeanTaaS and Hospital IQ aim to drive patient access, staff satisfaction and revenue productivity by helping to solve issues in multiple departments, including infusion suites, operating rooms and inpatient units.

“Every health system in the country has an urgent need to improve the utilization of both staff and assets to improve patient access,” states Mohan Giridharadas, LeanTaaS founder and CEO. “By joining forces, we will be able to offer our customers an unparalleled platform for optimizing their operations and improving patient care.”

Kirkland & Ellis LLP served as legal advisor on the transaction.