A private equity firm, New Mountain Capital, is reportedly nearing the completion of a significant acquisition that could reshape the revenue cycle management sector. According to an anonymous source cited by Bloomberg on Monday, the deal would value Access Healthcare at approximately $2 billion. This potential transaction highlights the growing interest of private equity firms in healthcare payment solutions. Access Healthcare, established in 2011 by veterans from Vision Healthsource, has become a pivotal player in managing healthcare claims and transactions for over 150 institutions, including hospitals and health systems. The company's workforce exceeds 27,000 employees. Meanwhile, New Mountain Capital has been actively expanding its footprint in the healthcare payments market through various acquisitions and mergers.

Founded in 2011 by industry veterans from Vision Healthsource, Access Healthcare has grown into a major force in revenue cycle management. The company handles over 400 million transactions annually, involving $120 billion in claims. It supports more than half a million physicians across numerous healthcare facilities. New Mountain Capital, with assets exceeding $55 billion, has shown a keen interest in this sector. In recent years, it has pursued several strategic moves. Last year, its bid to acquire R1 RCM for $5.8 billion was unsuccessful. However, the firm did not waver in its commitment to the healthcare payments space. Instead, it merged three health tech companies—The Rawlings Group, Apixio’s Payment Integrity business, and Varis—into a unified entity focused on healthcare payment integrity.

Just last week, New Mountain Capital announced plans to acquire Machinify, an AI-driven software platform designed to streamline healthcare payments. Pending regulatory approvals, this deal is expected to close within the quarter. The merger of Machinify with the previously mentioned entities will create a new company valued at $5 billion, boasting revenues surpassing $500 million. With over 2,000 employees, the combined entity will serve more than 60 health plans, including 13 of the top 20 payers. David Pierre, who led the earlier merger, will head the new organization, while Machinify's founder and CEO will assume the role of EVP and Chief Product Officer. Pierre emphasized the technological advancements this merger would bring, stating it would enhance error detection and reduce healthcare costs.

The anticipated acquisition of Access Healthcare would significantly bolster New Mountain Capital's presence in the revenue cycle management market. By integrating Access Healthcare's extensive client base and advanced technology capabilities, the firm aims to provide enhanced services to a broader range of healthcare providers. Although both parties have not commented on the ongoing negotiations, this deal underscores the increasing importance of efficient payment solutions in the evolving healthcare landscape.