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Discovery Health Partners LLC

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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 Investor(s) Seller(s) Deal size (Mn) Enterprise value (Mn) Post-money valuation (Mn) EBITDA multiple (x) Revenue multiple (x) Lead partner (s)
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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