Discovery Health Partners LLC Asset Profile

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Year established

2008

Location

Itasca IL US

Primary Industry

Healthcare IT

About

Based in Illinois, US, and founded in 2008 by Paul Vosters, and Terrence Ryan, Discovery Health Partners LLC, a.k.a. Discovery operates as a provider and developer of cloud-based revenue payment integrity software solutions that help healthcare payers improve payment integrity, increase revenue optimization, and maximize efficiencies. In August 2015, Carrick Capital Partners invested USD 22.5 in Discovery Health Partners. In August 2018, Carrick Capital Partners acquired a majority stake in Discovery Health Partners. In March 2021, MultiPlan Corporation, a portfolio company of Leonard Green & Partners, Hellman & Friedman, and GIC acquired Discovery Health Partners for USD 155 million in an all-cash transaction. As of January 2021, Jason Brown is the CEO of the company. The company provides a wide range of solutions, including premium restoration to restore and protect the premiums; coordination of benefits to identify instances of other coverage in order to maximize recoveries and drive future cost avoidance; data mining to identify and recover improper claims payments associated with adjudication errors, billing errors, or contract language, along with works to fix the leaks, preventing the reoccurrence of these errors in the future; subrogation to find more recovery opportunities, validate more cases, and reduce member contact, ultimately maximizing recoveries for the health plan; and clinical audits solution that analyzes and reviews healthcare claims to detect and deter billing errors. Discovery Health Partners offers these solutions through its proprietary cloud-based healthcare analytics platform that integrates powerful data, analytics, and business process capabilities.

Current Investors

Carrick Capital Partners, Hellman & Friedman, Leonard Green & Partners

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Primary Industry

Healthcare IT

Sub Industries

Consulting Services, Financial Services, Healthcare IT, Analytics & Performance Software, Accounting/Finance Software

Website

www.discoveryhealthpartners.com

Verticals

Big Data, Cloud Computing, FinTech

Company Stage

Add-on

Total Amount Raised

Subscriber access only

Deals

Deals Type
Add-on, Trade Sale
Add-on
Buyout
Growth

Deal Status	Target (s)	Deal Date
Completed	Discovery Health Partners LLC	21 Jan 2021
Completed	Consova’s payment integrity business	27 Aug 2020
Completed	Discovery Health Partners LLC	09 Aug 2018
Completed	Discovery Health Partners LLC	01 Aug 2015

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