New Mountain Capital is nearing an acquisition of Access Healthcare in a deal that could value the revenue cycle management group at about $2 billion, according to people familiar with the matter.
The US-based private equity firm could announce a deal as soon as the coming weeks, the people said, asking not to be identified discussing confidential information.
While discussions are advanced, they could still be delayed or falter, the people said. A representative for New Mountain declined to comment, while a spokesperson for Access Healthcare didn’t immediately respond to requests for comment.
On October 3, 2024, Moneycontrol was the first to report that Access Healthcare, a leading global healthcare focused provider of revenue cycle management (RCM) services with twin headquarters in Chennai and Texas, is exploring options to sell a majority stake and has mandated investment bank Jefferies for the proposed transaction.
Founded in 2011, Access Healthcare provides medical billing, coding, and accounts receivable management services to more than 150 institutions, including hospitals and non-acute care practices, its website shows.
Earlier this month, New Mountain agreed to acquire Machinify Inc., a provider of artificial intelligence-powered software for health-care payments. Last year, the private equity firm was unsuccessful with an offer to buy health-care IT company R1 RCM Inc.
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