Veradigm acquires Koha Health as stockholder lawsuit filed

Veradigm, a healthcare technology company, acquired revenue cycle optimization platform Koha Health. On the same day, a law firm filed a class action lawsuit against Veradigm, alleging that the company overstated revenues by at least $20 million and failed to maintain financial controls. The lawsuit is on behalf of purchasers of Veradigm’s stock between February 2021 and June 2023. The company admitted to internal control failures and revenue misstatements, causing the stock price to fall. Despite the lawsuit, Veradigm announced the acquisition as an opportunity to improve its revenue cycle services. The company did not mention the lawsuit in its announcement.

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