Machinify Acquired by New Mountain Capital: A Game-Changer for Healthcare Payments
Deal News | Jan 10, 2025 | Ropes & Gray
New Mountain Capital, a prominent New York-based investment firm managing over $55 billion in assets, has signed a definitive agreement to acquire Machinify, Inc. Machinify is known for its advanced AI-powered software aimed at transforming healthcare payments. The deal was announced on January 10 and is anticipated to close in the first quarter following regulatory approvals. Machinify will form part of a new entity created by the merger of The Rawlings Group, Apixios Payment Integrity business, and VARIS, signaling a significant strategic move in the healthcare sector. The combined organization will retain the Machinify name and focus on integrating technology with clinical expertise to enhance healthcare payment systems. Legal representation for New Mountain Capital was provided by the law firm Ropes & Gray, with a team led by Todd B. Kornreich and featuring several other specialized partners from the firm.
Sectors
- Private Equity
- Healthcare Technology
- Mergers & Acquisitions
Geography
- United States – New Mountain Capital is based in New York, and the transaction pertains to American healthcare technology.
Industry
- Private Equity – New Mountain Capital is a key player, representing the private equity aspect of this acquisition.
- Healthcare Technology – Machinify provides AI-powered software solutions for the healthcare sector.
- Mergers & Acquisitions – The acquisition of Machinify and the merger with other healthcare entities marks significant M&A activity.
Financials
- $55 billion – Assets under management by New Mountain Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Machinify, Inc. | Target Company | Company | Provider of AI-powered software for healthcare payments. |
| New Mountain Capital | Buyer | Company | A private equity firm managing a broad range of investment funds. |
| The Rawlings Group | Other | Company | Part of the merger forming the new healthcare intelligence platform. |
| Apixios Payment Integrity | Other | Company | Part of the merger forming the new healthcare intelligence platform. |
| VARIS | Other | Company | Part of the merger forming the new healthcare intelligence platform. |
| Ropes & Gray | Legal Advisor | Company | Provided legal services to New Mountain Capital for the acquisition. |