Signify Health recognized as a leading provider of value-based care payment programs that activate the home as a key part of the care continuum
NEW YORK – FEBRUARY 16, 2021 – New Mountain Capital, LLC, (“New Mountain”), a growth-oriented private equity firm with more than $30 billion in assets under management, today announced the completion of the initial public offering of New Mountain portfolio company Signify Health (NYSE: SGFY). Signify Health is a leading healthcare platform that
leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. The company closed its initial public offering of 27,025,000 shares of its Class A common stock at a price to the public of $24.00 per share. The number of shares offered and sold by Signify Health included the exercise in full of the underwriters’ option to purchase up to an additional 3,525,000 shares of Class A common stock from Signify Health.
New Mountain formed Signify Health in 2017 with a vision to transform the quality, delivery and cost of care by establishing an innovative platform to move healthcare homeward. The company was created by recapitalizing and integrating the in-home and complex care management capabilities of CenseoHealth and Advance Health. New Mountain continues to be Signify Health’s largest shareholder.
“We continue to see a massive shift in healthcare as health plans, employers and healthcare providers are accelerating their migration toward a holistic, preventive model whereby more care happens in the home, and plans and providers share in the cost,” said Matt Holt, Managing Director & President of Private Equity at New Mountain and chairman of Signify Health. “We believe Signify Health’s ability to leverage tech-enabled analytics, networks and services in the home together with financial incentives alignment will drive growth in value-based programs and improve health outcomes.”
Since its formation, Signify Health has developed a portfolio of solutions to align financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination, and cost-savings. Additionally, New Mountain supported
several strategic acquisitions that gave Signify Health differentiated technology, increased ability to address social determinants of health and the capability to organize and finance healthcare around a patient’s entire episode of care.
“Signify Health has a bold mission to transform how care is paid for and delivered so that people can enjoy more healthy, happy days at home,” said Kyle Armbrester, Signify Health CEO. “New Mountain’s support has been instrumental in our success. We look forward to our continued partnership and we’re excited to enter this new phase of growth and opportunity as a public company.”
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, net lease real estate and public equity funds with over $30 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit nmcapdev.wpenginepowered.com.