New Mountain Capital announced on May 3 that it acquired Apixio Inc. from Centene Corp. for an undisclosed price. According to data captured in the LevinPro HC database, this acquisition represents the 100th eHealth transaction of the year, and the 15th in the analytics specialty.
William Blair is serving as Centene’s financial adviser and Bass, Berry & Sims, PLC as its legal counsel. J.P. Morgan Securities LLC is serving as financial adviser to New Mountain Capital, and Ropes & Gray LLP is serving as its legal counsel.
Apixio provides a technology suite that mines, compiles and analyzes large volumes of disparate, unstructured patient data (such as physician notes and medical charts), and creates algorithms to extract insights to support payers’ and providers’ administrative activities.
New Mountain Capital is a growth-oriented investment firm that manages more than $37 billion in assets. The acquisition of Apixio is New Mountain Capital’s first acquisition of 2023; in 2022, the company completed two acquisitions.
Centene Corp. is a managed care company operating in 50 states. The company provides a portfolio of services to government-sponsored and commercial healthcare programs. Centene originally purchased Apixio in late 2020.
