New Mountain Capital is revolutionizing healthcare private equity by focusing on technology and growth instead of traditional physician group rollups. The firm recently launched Smarter Technologies, merging established company Access Healthcare with innovative startups SmarterDx and Thoughtful AI to enhance hospital revenue management. Under Matthew Holt's leadership, New Mountain has executed substantial mergers, demonstrating a willingness to invest heavily in promising tech assets. This shift occurs amid a challenging landscape for healthcare private markets, highlighting New Mountain's distinct strategy to leverage AI in healthcare.
They're great deals for investors," said a healthcare banker who asked to remain anonymous because they weren't authorized to speak to the media. "If your company can't get to an IPO, order the New Mountain special."
Holt has eschewed physician group rollups to dig deep into healthtech instead, with numerous megadeals behind his thesis, from New Mountain's $7 billion merger of Datavant and Ciox Health in 2021 to its $5 billion healthcare payments rollup of Machinify, The Rawlings Group, Apixio, and Varis in January.
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