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Direct Investment  + M&As  | 
Centene to Sell Healthcare AI Platform Apixio to New Mountain Capital

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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