Signify Health and Remedy Partners Merge to Develop Digital Healthcare Platform

On August 22, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biopharmaceutical company Signify Health and software technology company Remedy Partners announced a merger. Specific financial details of the transaction have not been disclosed.

Upon completion of the merger, the new company will further develop its digital health platform to enhance the quality of medical services and reduce out-of-pocket costs for patients.

Signify Health is a leading biopharmaceutical company headquartered in Dallas, Texas, with offices in Virginia and South Dakota. The company serves patients through its innovative data-driven clinical platform to improve their health outcomes and quality of life. Signify Health collaborates with multiple biopharmaceutical and technology companies, providing health risk assessments and home-based care services to over one million users annually.

Remedy Partners, established in 2011 and headquartered in Norwalk, Connecticut, USA, is a software technology company. The company primarily provides software analytics and data management services to healthcare organizations, as well as mobile payment services to patients. Currently, it collaborates with more than 1,000 healthcare institutions across the United States.

Kyle Armbrester, CEO of Signify Health, stated, “The healthcare industry is undergoing a transformation toward lower costs and higher quality. Without the support of data software and innovative medical technologies, this shift would be extremely challenging. Remedy Partners is an ideal partner in advancing healthcare reform; they have truly transformed the way healthcare is paid for. We are delighted to have the opportunity to collaborate with Remedy Partners to improve the quality of life for more patients.”

Steve Wiggins, founder of Remedy Partners, stated, “This collaboration will help the hospitals and physician groups we serve achieve sustainable development while improving patients’ lives. The network services provided by the new company fill a gap in the healthcare industry, enabling us to better meet patients’ diverse needs.”

New Mountain Capital, a New York-based investment firm, has consistently provided financial backing to Signify Health and Remedy Partners. The firm currently manages over $20 billion in assets, primarily investing in fast-growing startups across various industries. Matt Holt, General Partner at New Mountain Capital, stated, “We aim to reduce patients’ healthcare costs and improve treatment outcomes. Aside from Signify Health, no other company can provide such valuable technical support to Remedy Partners.”

(Compiled by Hu Yifan)