Centene completes sale of AI platform

Centene has completed the sale of artificial intelligence platform Apixio to the private equity firm New Mountain Capital.

Centene said it expects the transaction to be earnings-neutral in 2023, according to a June 13 company news release.

The payer acquired Apixio in December 2020. The platform analyzes structured and unstructured data to develop patient health profiles and support value-based care programs.

Centene announced plans to sell Apixio to New Mountain Capital on May 3. Centene CEO Sarah London has overseen the divestiture of several non-core businesses since she took over the role in March 2022. She told Fortune on June 9 that the businesses that have been sold were keeping the company from focusing and being as efficient as it could. 

"When I first started at Centene I was sitting over all those other businesses," Ms. London told the outlet. "Each one of those is a totally different business model — running a technology business, running a provider organization, and running a payer."

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