Private equity firm New Mountain Capital has completed the merger of three payment integrity companies.
The Rawlings Group, Apixio's payment integrity business, and Varis are the companies being combined, according to a Sept. 5 New Mountain news release. The yet unnamed combined company will have "an expansive set of capabilities," including subrogation, coordination of benefits, pharmacy payment integrity and complex claim solutions.
"The new organization will help reduce administrative waste while being a catalyst for lowering healthcare costs for payers, payviders, employers and consumers. This move is built upon our decades of healthcare expertise coupled with an accelerated investment in leveraging big data and AI with a maniacal focus to help bend the cost curve," New Mountain Managing Director and President of Private Equity Matt Holt said in the release.
David Pierre will serve as the CEO of the combined company, according to the release. He previously served as COO of home health company Signify Health, where he oversaw the company's initial public offering in 2021 and $8 billion sale to CVS Health last year.
As part of the transaction, Apixio’s connected care platform and value-based care solutions were acquired by real-world health data company Datavant, according to the release. New Mountain acquired Apixio from Centene in 2023.