Dallas-based Access Healthcare—which uses AI and robotic process automation to transform revenue cycle management—made news in January when New York’s New Mountain Capital made a strategic growth investment in the company. New Mountain’s majority stake reportedly valued Access at $2 billion. Now, five months later, a triple play is underway.
Jeremy Delinsky, CEO of Smarter Technologies
New Mountain announced that it’s combining Access Healthcare with two of its other portfolio companies—NYC-based SmarterDx and Austin-based Thoughtful.ai—to form Smarter Technologies, “the automation and insights platform for healthcare efficiency.”
The combined entity is expected to generate more than $800 million of revenue, serving over 200 clients, over 60 hospital systems, and over half a million providers, while processing more than 400 million transactions and managing over $200 billion in combined revenue annually.
New Mountain said it has “partnered with and provided strategic growth investments to” all three companies, with a goal of driving their expertise and capabilities in healthcare revenue management. Now combined as Smarter Technologies, the new entity “will bring together these unique strengths, footprints, and offerings to better automate health systems’ workflows and bolster their financial performance.”
Jeremy Delinsky, an executive advisor to New Mountain and an experienced healthcare and tech executive, will be CEO of the combined company. Individual leaders across Access Healthcare. SmarterDx, and Thoughtful.ai “will continue to oversee each respective business within Smarter Technologies,” New Mountain said.
‘The innovation leader of the sector’
“We identified the market leaders across the most important areas of agentic-AI, machine learning and clinical data, and large-scale automation in the three companies and are now combining them to create the innovation leader of the sector. We see enormous potential for growth and an opportunity to transform the industry,” Matt Holt, managing director and president of private equity at New Mountain, said in a statement. “We look forward to working with Jeremy, as well as the teams from each of the companies, in one integrated effort to build the most important disruptor in the market that will scale the next generation of revenue cycle innovation across the ecosystem.”
‘Creating a frictionless healthcare ecosystem’
Access Healthcare was co-founded in 2011 by by Chairman and CEO Anurag Jain, President and Managing Director Shaji Ravi, and Vice Chairman Vardhman Jain.
In announcing New Mountain’s investment in January, Anurag Jain, chairman and CEO of Access Healthcare, said “healthcare organizations are facing unprecedented challenges in navigating complex reimbursement systems and the need to maintain financial sustainability.”
“New Mountain has a strong track record of partnering with founder-led businesses, and I’m confident that, together, we can accelerate our efforts to support clients to overcome these obstacles,” Jain added in his January statement. “By delivering innovative, technology-driven solutions to clients, our platform not only improves their financial performance but also enhances the overall patient experience.”
On Monday, Access’ Shaji Ravi said on LinkedIn that the newly formed Smarter Technologies “is focused on creating a frictionless healthcare ecosystem by addressing administrative inefficiencies to enhance the quality of patient care. Our approach integrates software-led services, advanced automation, real-time data assets, and robust analytics infrastructure to amplify the impact of skilled professionals across the value chain.”
“Over the past decade and a half, Access Healthcare has built up deep domain expertise and a strong track record of technology-led solutions tailored to our clients’ needs,” Ravi added. “These strengths have been instrumental in carving out our unique niche within this partnership. In collaboration with our ecosystem partners SmarterDx and Thoughtful AI, we’re now poised to deliver enhanced value by leveraging new generation AI platforms that complement our core capabilities.”
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