Remedy Partners, a Norwalk-headquartered provider of bundled payment software programs, has announced its merger with Signify Health, a Dallas-based provider of logistics and clinical workflow technology for health care practitioners. Both firms are portfolio companies of New Mountain Capital LLC, a New York City investment firm.
The financial aspects of the merger were not disclosed.
Kyle Armbrester, CEO of Signify Health, will serve as chief executive of the newly merged entity and Steve Senneff, chief financial officer at Remedy Partners, will hold that position plus the president’s role.
“Both Signify and Remedy have scaled disruptive approaches to health care delivery, achieving impressive growth and penetration in their respective markets,” said Matt Holt, deputy head of private equity at New Mountain Capital. “With the convergence of those markets around value-based care delivery, we believe this combination results in a compelling set of complementary assets that are well-positioned to help payer and provider organizations succeed in managing value-based care. We look forward to building out this vision of bringing better coordinated care and improved quality of life to members as we continue our work with management.”