New York City-based payer management company MultiPlan has agreed to acquire Discovery Health Partners, a healthcare revenue analytics and technology company, for about $155 million.
The deal, announced last week, is expected to close by the end of the first quarter this year, subject to closing conditions that include customary regulatory approvals. MultiPlan plans to fund the $155 million acquisition and transaction costs from cash on hand.
Discovery Health Partners works with about 80 healthcare payer customers in the Medicare Advantage, Medicaid and commercial markets to provide data analytics tools for improving payment integrity and revenue processes. With the acquisition, Discovery's technologies will work with MultiPlan's payment integrity offerings to analyze and ensure the legitimacy of a payer's payment requests and premium collections.