Waystar Holding Corp.
Publicly traded American healthcare payments software company serving more than 30,000 provider clients, listed on Nasdaq under ticker WAY.
Company Type
public
Founded
2017
Headquarters
Lehi, Utah, USA
Stock
NASDAQ: WAY
Revenue
$1.10 billion (FY2025)
Employees
Approximately 2,000
Primary Market
United States
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About Waystar Holding Corp.
Is Waystar publicly traded?
Yes. Waystar trades on Nasdaq under ticker WAY. It completed its IPO in June 2024.
Who owns Waystar?
Waystar is a public company. Its largest shareholders include private equity firm EQT and the Canada Pension Plan Investment Board, along with public investors.
When was Waystar founded?
The company formed in 2017 through the merger of Navicure (founded 2001) and ZirMed (founded 1999), and adopted the Waystar name in 2018.
Where is Waystar headquartered?
Lehi, Utah, with a second major office in Louisville, Kentucky.
History of Waystar Holding Corp.
Waystar was created in 2017 when Bain Capital merged two revenue cycle companies it controlled: Navicure of Duluth, Georgia (founded 2001) and ZirMed of Louisville, Kentucky (founded 1999). The combined company took the Waystar name in 2018.
In 2019, EQT Partners and the Canada Pension Plan Investment Board acquired a majority stake valuing the company at roughly $2.7 billion. Under CEO Matthew Hawkins, Waystar expanded through acquisitions including eSolutions (2020, approximately $1.3 billion) and Patientco (2021).
Waystar completed its IPO on Nasdaq in June 2024, raising approximately $968 million. In October 2025 it acquired Iodine Software, a clinical documentation AI company, for approximately $1.26 billion in cash and stock, adding mid-revenue-cycle capabilities.
Brands Owned by Waystar Holding Corp.
Waystar Holding Corp. owns 1 brand in our database. Explore the ownership tree below — click categories to expand and see individual brands.
Waystar Holding Corp.
public · Founded 2017 · Lehi, Utah, USA
1
brands
Stock Information
Waystar Holding Corp. Ownership: Pros & Cons
Advantages
- +Scale infrastructure processing 7.5 billion transactions annually
- +Strong financial profile: 42% adjusted EBITDA margin, 112% net revenue retention
- +Beneficiary of consolidation among hospital IT vendors
- +AI investment through the Iodine acquisition
Considerations
- -Leverage from the Iodine acquisition and prior buyout debt
- -Dependence on US healthcare regulatory stability
- -Intense competition from Optum and other large platforms
Frequently Asked Questions About Waystar Holding Corp.
Is Waystar publicly traded?
Yes. Waystar trades on Nasdaq under ticker WAY. It completed its IPO in June 2024.
Who owns Waystar?
Waystar is a public company. Its largest shareholders include private equity firm EQT and the Canada Pension Plan Investment Board, along with public investors.
When was Waystar founded?
The company formed in 2017 through the merger of Navicure (founded 2001) and ZirMed (founded 1999), and adopted the Waystar name in 2018.
Where is Waystar headquartered?
Lehi, Utah, with a second major office in Louisville, Kentucky.
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