Centene Corporation Signs Definitive Agreement to Divest Apixio to New Mountain Capital

Centene Corporation announced today that it has signed a definitive agreement to sell Apixio, a leading artificial intelligence platform that enables value-based care, to New Mountain Capital, a growth-oriented investment firm with more than $37 billion in assets under management. Centene acquired Apixio in December 2020. Apixio improves administrative, clinical and financial outcomes for some of the nation’s leading health plans and provider groups using its proprietary clinical data curation and artificial intelligence engine. With a patented data science infrastructure, Apixio analyzes structured and unstructured data to develop high-fidelity patient health profiles and support value-based care programs. “Apixio has been a trusted business partner since our relationship began in 2015,” said Sarah M. London, Chief Executive Officer at Centene. “As part of our ongoing portfolio review, it was important for us to find a strategic partner for Apixio with whom the business can continue to grow, innovate and thrive. We are confident that New Mountain Capital is well positioned to ensure that Apixio continues to support the success of its clients given their sector expertise and long-term focus.” “We admire Apixio as a leading healthcare technology company that offers a differentiated value proposition using machine learning and analytics,” said Matt Holt, Managing Director and President, Private Equity at New Mountain Capital. ̶...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT AI Apixio Bass Berry & Sims PLC Centene Centene Corporation Clinical Data Health IT Acquisitions Healthcare M&A J.P. Morgan Securities LLC Matt Holt New Mountain Capital Ropes & Gray LLP Sarah M. Source Type: blogs