Insurance software designer Remedy Partners has received an undisclosed investment from New Mountain Capital.
The investment is a recapitalisation in which early investors in the company have sold some of their shares to New Mountain. All previous stakeholders still retain some shares in Remedy.
As part of the deal, which is expected to take between 30 and 60 days to close, New Mountain will take four of the seven board seats. The firm is set to take an active role in business development, M&A and strategic guidance.
Remedy Partners develops bundled payment networks to help health insurers and health care providers organise and finance healthcare around patient episodes. The platform offers a workflow management and decision solution which integrates with EMRs to aid payments. It also supplies clients with analytic tools for insights, regular reporting and analysis.
New Mountain managing director Matt Holt said, “We believe Remedy Partners has the potential to transform how we pay for, buy, measure, and deliver health care. They have laid the foundation to dramatically scale their business and we look forward to helping them achieve their potential.”
Earlier in the year, New Mountain Capital made an investment into workforce management platform Beeline. The undisclosed deal provides Beeline with ‘significant strategic resources and financial capital’ to help with global expansion
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