New Mountain to buy healthcare tech firm Apixio from Centene

• William Blair is serving as financial advisor to Centene while J.P. Morgan Securities is serving as financial advisor to New Mountain Capital
• Centene is a Medicaid managed care organization
• New Mountain Capital has over $37 billion in assets under management

New Mountain Capital has agreed to acquire San Mateo, California-based Apixio, a provider of healthcare artificial intelligence solutions, from Centene Corporation. No finacnial terms were disclosed.

Centene acquired Apixio in December 2020.

“We admire Apixio as a leading healthcare technology company that offers a differentiated value proposition using machine learning and analytics,” said Matt Holt, a managing director and president, private equity at New Mountain Capital, in a statement. “Through continued investment in products, services and technology, we are excited to build Apixio into a ‘connected care’ platform that brings together critical infrastructure to enable the shift to outcomes-based reimbursement models.”

William Blair is serving as financial advisor to Centene while J.P. Morgan Securities LLC is serving as financial advisor to New Mountain Capital.

Centene is a Medicaid managed care organization.

New Mountain Capital has over $37 billion in assets under management.