Centene Corporation signed a definitive agreement to acquire Apixio Inc., a health care analytics company offering artificial intelligence (AI) technology solutions. Apixio provides a technology suite that mines, compiles, and analyzes large volumes of disparate, unstructured consumer data (such as physician notes and medical charts), and creates and refines algorithms to extract high-quality insights to support payer and provider organization administrative activities. Financial terms were not disclosed. The transaction is subject to regulatory approvals and is expected to close by the end of 2020. After the acquisition closes, Apixio will remain an operationally independent entity as part of Centene’s Health Care Enterprises group.
Centene’s Chairman, President and Chief Executive Officer Michael F. Neidorff said, “Apixio’s capabilities are closely aligned with our plans to digitize the administration of health care and to leverage comprehensive data to help improve the lives of our members. Apixio’s technology will complement existing data analytics products including Interpreta, creating a differentiated platform to broaden support for value-based health care payment and delivery with actionable intelligence.”
Apixio’s Chief Executive Officer Darren Schulte, M.D., said, “With Centene, we will be able to accelerate the use of our AI technology to improve the way that health care is measured, administered, and delivered, and to help enable new discoveries. This partnership positions Apixio to extract insights from digital data to help millions of individuals receive higher quality care around the world.”
Centene Corporation, a Fortune 50 company, is a multi-national health care enterprise. It provides health care management services to government-sponsored and commercial health care programs, focusing on under-insured and uninsured individuals. It serves Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. Centene also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person.
This was reported by Centene Corporation on November 9, 2020.
Contact information: Apixio, 1850 Gateway Drive, 3rd Floor, San Mateo, CA 94404; 877-427-4946; Website: https://www.apixio.com/contact-us/