Expands Payment Integrity Services and Adds a Revenue Integrity Service Line
March 1, 2021 – MultiPlan Corporation (“MultiPlan” or the “Company”) (NYSE: MPLN), a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry, today announced that it has closed the previously disclosed acquisition of Discovery Health Partners (Discovery), an analytics and technology company offering healthcare revenue and payment integrity services.
Discovery offers its services to payor customers in the Medicare Advantage, Medicaid and commercial markets. With the acquisition, MultiPlan strengthens its service offering in the payment integrity market with new and complementary services to help its payor customers manage the overall cost of care and improve their competitiveness. It also adds revenue integrity for plans that receive premium from CMS.
“We are extremely pleased to announce the closing of the Discovery acquisition,” said Mark Tabak, MultiPlan Chairman and CEO. “This acquisition will diversify MultiPlan’s payment integrity service line and also expands our footprint into in-network claims and government programs.”
About MultiPlan
MultiPlan is committed to helping healthcare payors manage the cost of care, improve their competitiveness and inspire positive change. Leveraging sophisticated technology, data analytics and a team rich with industry experience, MultiPlan interprets clients’ needs and customizes innovative solutions that combine its payment integrity, network-based and analytics-based services. MultiPlan is a trusted partner to over 700 healthcare payors in the commercial health, government, property and casualty and dental markets. For more information, visit multiplan.com.
About Discovery Health Partners
Discovery Health Partners’ mission is to deliver unique, actionable analytic insights and technology-powered solutions to help healthcare payers improve payment integrity, increase revenue optimization, and maximize efficiencies. Serving about 80 health plans across the U.S., including nine of the 10 largest U.S. health plans, Discovery has been recognized consistently for its growth and innovation—earning a spot on the Inc. 5000 list seven years in a row, the Crain’s Fast 50 four times, and a prestigious FutureEdge 50 Award from IDG for innovations in machine learning. For more information on Discovery, go to www.DiscoveryHealthPartners.com.
Forward Looking Statements
This press release contains forward-looking statements. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, including the impact of the acquisition of Discovery Health Partners. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date they are made. Any forward-looking statements that we make herein are not guarantees of future performance and actual results may differ materially from those in such forward-looking statements as a result of various factors. Factors that may impact such forward-looking statements also include the factors discussed under “Risk Factors” in the Company’s Registration Statement filed October 30, 2020, as amended, as such risk factors may be updated from time to time in the Company’s periodic and other filings with the SEC. The Company’s periodic and other filings are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
