Signify Health and Remedy Partners affiliates are merging to create a platform to deliver value-based care through the integration of clinical, behavioral, and social data, creating a new business with $600 million in revenue.
The new organization will enable health systems, provider groups, health plans, and life sciences companies to pursue value-based care. Dallas-based Signify works with leading health plans, healthcare providers, and life sciences companies. Connecticut’s Remedy allows payers, employers, and providers to bundle payments around an episode of care.
It will have 9,000 providers and a partner network of 300 provider systems, 2,000 post acute organizations that see over 1 million members in the home while addressing 25 million social determinants of health activities for 3 million members. The network will utilize technology to administer the care and improve coordination between services.
“A fundamental change is underway in healthcare and patients stand to benefit because their experience is now at the center of reform. Organizing and financing health care around a patient’s episode of care lowers costs and improves quality, allowing providers to move toward a value-based approach, but making the shift is challenging without analytic support, workflow and decision support software, and an innovative approach to care delivery.” said Kyle Armbrester, Signify’s CEO who will be the combined CEO via release. Steve Senneff will serve as President & CFO of the new corporation.
Both companies are portfolio companies of New Mountain Capital LLC, a New York-based investment firm.