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Direct Investment  + M&As  |  May 3, 2023
Centene to Sell Healthcare AI Platform Apixio to New Mountain Capital
Joe Palmisano
By: Joe Palmisano

Centene to Sell Healthcare AI Platform Apixio to New Mountain Capital

Centene Corporation will sell its healthcare-focused artificial intelligence (AI) platform, Apixio, to investment firm New Mountain Capital.

Acquired by Centene in December 2020, Apixio improves administrative, clinical and financial outcomes for US health plans and provider groups using its AI engine.

“Apixio has been a trusted business partner since our relationship began in 2015. 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,” said Sarah M. London, CEO of Centene.

St. Louis, MO-based Centene expects the transaction to be neutral to 2023 adjusted EPS.

Recent deals from New York-based New Mountain include the purchase of clinical research organization Emmes from private equity investor Behrman Capital and a $2.45 billion carve out of the applied, food and enterprise services businesses of scientific research solutions major PerkinElmer.

The firm, which currently manages more than $37 billion in assets, targets high quality leaders in “defensive growth” industry sectors.

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Centene Corporation New Mountain Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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