Centene, a US-based healthcare services provider, has signed a deal to sell its artificial intelligence (AI) platform Apixio to New Mountain Capital.

The financial terms of the transaction were not disclosed.

Leveraging its own AI engine and clinical data curation, Apixio caters to health plans and provider groups to enhance their administrative, financial, and clinical outcomes.

Apixio employs a patented data science infrastructure to analyse both structured and unstructured data to develop patients’ health profiles.

New Mountain Capital managing director and president of private Equity Matt Holt said: “We admire Apixio as a leading healthcare technology company that offers a differentiated value proposition using machine learning and analytics.

“Through continued investment in products, services and technology, we are excited to build Apixio into a ‘connected care’ platform that brings together critical infrastructure to enable the shift to outcomes-based reimbursement models.”

Centene, which bought Apixio in December 2020, is selling the AI platform as part of its ongoing review.

Centene CEO Sarah London said: “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, innovate and thrive.

“We are confident that New Mountain Capital is well positioned to ensure that Apixio continues to support the success of its clients given their sector expertise and long-term focus.”

The divesture is subject to customary closing conditions and regulatory clearance.