Why Centene Is Buying Apixio

By Annie Baker ● November 10, 2020
  • Centene Corporation (NYSE: CNC) recently announced it signed a definitive agreement to buy Apixio. These are the details.

Centene Corporation (NYSE: CNC) recently announced it signed a definitive agreement to buy Apixio, a healthcare analytics company offering Artificial Intelligence (AI) technology solutions. The deal is subject to regulatory approvals and is expected to close by the end of 2020.

Apixio is known for providing a technology suite that mines, compiles and analyzes large volumes of disparate, unstructured patient data (such as physician notes and medical charts), and creates and refines algorithms for extracting high-quality insights to support payers’ and providers’ administrative activities. And Apixio’s AI platform has been trained to handle the complexities and challenges of the healthcare industry and deliver proven results.

Apixio is going to remain an operationally independent entity as part of Centene’s Health Care Enterprises group to continue bringing value to its clients and the industry while also realizing the benefits of enhanced scale with Centene.

KEY QUOTES:

“Centene is committed to accelerating innovation, modernization and digitization across the enterprise and solidify its position as a technology company focused on healthcare. Apixio’s capabilities are closely aligned with our plans to digitize the administration of healthcare 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 healthcare payment and delivery with actionable intelligence.”

— Michael F. Neidorff, Chairman, President and Chief Executive Officer for Centene

“We are very excited about this transaction. With Centene, we will be able to accelerate the use of our AI technology to improve the way that healthcare 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.”

— Darren Schulte, M.D., Chief Executive Officer for Apixio