Funding agency New Mountain Capital LLC funding agency has organized a merger of three corporations to create a healthcare fee accuracy platform.
The merger includes the Rawlings Group, Apixio’s Cost Integrity enterprise, and VARIS. The businesses didn’t disclose monetary particulars.
New Mountain mentioned the brand new firm, as but unnamed, would have an expansive set of capabilities, together with subrogation, coordination of advantages, pharmacy fee integrity, and complicated declare options, to make sure fee integrity and can work with most of the largest well being plans in the USA.
“This mixture of fee integrity leaders will create worth throughout your complete healthcare ecosystem,” mentioned Matt Holt, managing director and president, personal fairness at New Mountain, in a press release. “The brand new group will assist scale back administrative waste whereas being a catalyst for reducing healthcare prices for payers, payviders, employers and customers. This transfer is constructed upon our a long time of healthcare experience coupled with an accelerated funding in leveraging huge information and AI with a maniacal focus to assist bend the price curve.”
David Pierre will grow to be CEO of the mixed entity. Pierre beforehand served as chief working officer of Signify Well being, the place he led over $1 billion in income and oversaw the corporate’s preliminary public providing in 2021 and subsequent $8 billion sale to CVS Well being in 2023.
“We’re excited for the expansion and innovation that this merger will allow, and the world-class expertise able to unlock worth in new methods throughout the enterprise,” mentioned Pierre.
“We share a customer-first method and are bringing collectively what we consider are the business’s greatest particular person capabilities into one, data-rich platform, with the ability of analytics to intervene earlier within the claims cycle to drive most ROI for our purchasers,” Pierre mentioned in a press release.
As a part of the transaction, Apixio’s Linked Care platform and value-based care options have been acquired by Datavant.
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