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Performant Financial Corporation completes acquisition of AI technology assets from RecordsOne to enhance healthcare solutions

Apr 09, 2024•over 1 year ago

Acquiring Company

Performant Financial Corporation

Acquired Company

RecordsOne

PlantationNaplesHealth Care

Description

Performant Financial Corporation, primarily operating as Performant Healthcare Solutions, has strategically acquired key AI technology assets from RecordsOne to enhance its scale initiatives. This acquisition supports Performant’s strategic goals to increase scale and efficiency by incorporating new game-changing capabilities in technology to further automate historically labor-intensive activities within the healthcare sector.

Company Information

Company

Performant Financial Corporation

Location

Plantation, Florida, United States

About

Performant supports healthcare payers in identifying, preventing, and recovering waste and improper payments by leveraging advanced technology, analytics and proprietary data assets. Performant works with leading national and regional healthcare payers to provide eligibility-based, also known as coordination-of-benefits (COB) services, as well as claims-based services, which includes the audit and identification of improperly paid claims. Performant is a leading provider of these services in both government and commercial healthcare markets. Performant also provides advanced reporting capabilities, support services, customer care, and stakeholder training programs designed to mitigate future instances of improper payments.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed