Neuberger and KKR buy minority stake in health data giant Datavant
What's the deal? Neuberger BermanDealroom has a profile for this one. Try Dealroom → and KKR have agreed to acquire a significant minority stake in Datavant, the largest health data ecosystem in the US. New Mountain CapitalDealroom has a profile for this one. Try Dealroom →, an investor since 2014, keeps its controlling position. The deal value was not disclosed.
What does Datavant do? The company runs a data collaboration platform that lets providers, payers, government agencies, and life science firms securely exchange patient-level data. Its ecosystem spans more than 80,000 providers, 75 of the top 100 health systems, and 350-plus partners.
Datavant's data touches 90% of the US population and 80% of Medicare Advantage plan participants.
What's the rationale? Neuberger and KKR will back Datavant's growth alongside New Mountain and existing shareholders. Chief executive officer Kyle Armbrester said the company was "deliberate in choosing the best strategic partners for our business, who align with our mission."
What's the endgame? Datavant is positioning for what New Mountain calls "the next era of connected data and clinical AI." Armbrester said the new backers equip the company to "accelerate into our next phase of growth."
The signal: Bringing two large investors into a company already reaching most of the US population underscores how central health data infrastructure has become to the push toward clinical AI and value-based care.
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Image credit: Generated with Gemini
