Rawlings Group secures private investment from New Mountain Capital
The Rawlings Group , a coverage analytics provider ensuring payment accuracy on behalf of its health plan clients, announced a strategic investment from affiliates of New Mountain Capital, LLC (“New Mountain”), a growth-oriented investment firm with approximately $50 billion in assets under management.
Rawlings is a technology-enabled payment integrity provider that delivers savings for its health insurance clients by identifying the correct third parties responsible for paying medical claims across its subrogation, workers’ compensation, coordination of benefits, and drug claim payment integrity offerings.
Founded in 1977, Rawlings has been partnering with health insurance clients to lower the cost of healthcare. Rawlings created the first ever subrogation outsourcing solution and soon after launched coordination of benefits and pharmaceutical claims recovery offerings that form the foundation of the Company’s capabilities today. Today, Rawlings serves more than 30 health insurance companies and delivers more than $1.5 billion in annual savings for its clients.
“George Rawlings built the industry leader in the payment integrity solutions we provide. With the help of our new partners, the company will continue its growth and success on behalf of health insurers. With New Mountain Capital, we are equipped with the resources to accelerate our planned investments in technology, talent development, and innovative payment integrity solutions. We could not be more excited about the future and the role we’ll play in enhancing the experience of all stakeholders in the healthcare ecosystem.” – yan Little, CEO of The Rawlings Group.
“We have long admired the Rawlings business and the Company’s reputation for outstanding client outcomes. New Mountain’s deep experience in healthcare technology and payer services, as well as its philosophy of building great businesses, will support Rawlings as the Company accelerates its strategic vision through investing in cutting-edge technology and AI capabilities, while building on its strong market reputation and client relationships.” – Matt Holt, Managing Director and President, Private Equity at New Mountain.
“Rising healthcare costs and increasing payment complexity create a significant need for firms that can help health insurance companies navigate these market dynamics. Rawlings’ deep subject matter expertise, augmented by its proprietary technology platform, positions the Company as a leading player in the coverage analytics space that delivers hard dollar savings for its clients. We are excited to partner with the entire Rawlings organization to support the next phase of growth for the Company.” – Brian Murphy, Managing Director at New Mountain.
