Centene to divest AI platform Apixio

Centene to divest AI platform Apixio

May 3 (Reuters) – Centene Corp (CNC.N) will sell its artificial intelligence-powered healthcare analytics platform Apixio to investment firm New Mountain Capital as part of an ongoing portfolio review, the U.S. health insurer said on Wednesday.

The company, which acquired Apixio in December 2020, did not disclose the terms of the transaction.

Apixio compiles and analyzes large volumes of unstructured patient data, including medical charts and physician’s notes, into insights and curated data.

“As part of our ongoing portfolio review, it was important for us to find a strategic partner for Apixio with whom the business can continue to grow,” said Centene Chief Executive Office Sarah London said in a statement.

Centene said it expects the sale of the platform to be neutral to its adjusted profit for this year.

Reporting by Bhanvi Satija in Bengaluru; Editing by Savio D’Souza

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Source: Reuters