New Mountain Capital, a growth-oriented investment firm with $55+ billion in assets under management, announced a definitive agreement to form Smarter Technologies, the automation and insights platform for healthcare efficiency, created via the strategic combination of portfolio companies SmarterDx, Thoughtful.ai, and Access Healthcare.
New Mountain partnered with and provided strategic growth investments to each company to drive and expand their expertise and capabilities in healthcare revenue management. As a combined entity, Smarter Technologies will combine these unique strengths, footprints, and offerings to automate health systems’ workflows better and bolster their financial performance.
Smarter Technologies serves over 200 clients, including 60+ hospitals, health systems, and 500,000+ providers. The company processes over 400 million transactions and manages over $200 billion in combined revenue annually.
Launched in 2020, SmarterDx is the leading provider of proprietary clinical AI for revenue integrity and care quality. Thoughtful.ai (also founded in 2020) is the leading AI-powered business and revenue cycle automation platform that helps improve healthcare operations’ productivity, accuracy, and scalability.
Founded in 2011, Access Healthcare is a leading technology-enabled platform for revenue cycle management (RCM) and partners with some of the largest healthcare organizations to deliver leading revenue cycle operations.
With a complex healthcare landscape, Smarter Technologies will provide one of the most comprehensive platforms in the industry. The company will be well-positioned to utilize its solutions to enhance health systems and hospitals’ operational efficiency, reduce administrative inefficiency, and enable providers to better focus on improving patient experiences.
The combined company will be led by Jeremy Delinsky, CEO. Delinsky is an Executive Advisor to New Mountain and an experienced healthcare and technology executive. Individual leaders across SmarterDx, Thoughtful.ai, and Access Healthcare will continue to oversee each respective business within Smarter Technologies.
KEY QUOTES:
“Amid rapid change in the healthcare sector, Smarter Technologies offers a unique, comprehensive, and modular platform that addresses hospitals’ and health systems’ growing need for better administrative and revenue management technologies and capabilities. I look forward to working with New Mountain and the accomplished, experienced teams across each business to collaborate, share insights and capabilities, and identify ways to both strengthen our industry leadership and innovate to better serve our clients across the healthcare market.”
Jeremy Delinsky
“The healthcare provider revenue crisis has reached a breaking point, and the need for a new approach has never been higher. Smarter Technologies is poised to bring radical transformation to the industry. I look forward to collaborating with the New Mountain team, as well as Jeremy and the leadership team of Smarter Technologies to scale the next generation of automation solutions for the sector.”
Robert Musslewhite, New Mountain Executive Advisor, who is joining the board of Smarter Technologies
“We identified the market leaders across the most important areas of agentic-AI, machine learning and clinical data, and large-scale automation in the three companies and are now combining them to create the innovation leader of the sector. We see enormous potential for growth and an opportunity to transform the industry. We look forward to working with Jeremy, as well as the teams from each of the companies, in one integrated effort to build the most important disruptor in the market that will scale the next generation of revenue cycle innovation across the ecosystem.”
Matt Holt, Managing Director and President, Private Equity, at New Mountain Capital
