Centene Corp. last week said it will sell Apixio, its value-based care and artificial intelligence (AI) platform, to private equity firm New Mountain Capital for an undisclosed sum. The company, which originally acquired Apixio in 2015, said that the transaction will be neutral for 2023 earnings. This is the latest in a series of divestments and spinoffs orchestrated by Centene’s senior leadership, who are in the process of refocusing on Centene’s core health benefits businesses. The insurer sold pharmacy subsidiaries PANTHERx and Magellan Rx last year. Centene is currently the fourth-largest insurer nationally, with 21,669,643 medical lives.
Source: AIS’s Directory of Health Plans