Centene has signed a definitive agreement to sell artificial intelligence platform Apixio to the private equity firm New Mountain Capital.
Centene acquired Apixio in December 2020. The platform analyzes structured and unstructured data to develop patient health profiles and support value-based care programs, according to a May 3 Centene news release.
"Apixio has been a trusted business partner since our relationship began in 2015," Centene CEO Sarah London said in the release. "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."
The deal is subject to customary closing conditions, including regulatory approvals.Centene expects the tranasction to be earnings neutral in 2023.