Case Study

Remedy Partners Merges with Signify Health; Completes Successful IPO

August 2019

Remedy Partners, Inc (“Remedy”) represents a leading bundled payment convener, enabling providers, health plans and employers to organize and finance healthcare delivery around a patient’s episode of care. Bundled payments served as an emerging and powerful method to help the industry shift from fee-for-service to a value-based model. TTCP partnered with Remedy in 2014 after gaining conviction in the significant market opportunity presented by bundled payments, as a confluence of financial and regulatory changes were on the precipice of accelerating the adoption of value-based care initiatives. TTCP’s growth capital helped fuel Remedy’s market leadership through rapid expansion of episode-based care management, technology development, and investment in operations and team. TTCP played a vital role in securing Remedy’s early leadership position as the industry’s largest convener in terms of Medicare spend under management. Remedy was recapitalized in 2019 by New Mountain Capital, subsequently merged with Signify Health in 2020, and completed a successful IPO as Signify Health (NYSE: SGFY) in early 2021. 

Value Creation
 
  • Provided key introductions and messaging support to key senior level executives at regional and national health plans
  • Worked closely with Company senior executives to provide mentorship and align the organization
  • Facilitated strategic discussions with companies along the healthcare value chain to enhance Remedy’s reach and footprint, including exploring opportunities with commercial health plans
  
  
Our business was at the front-end of healthcare payment transformation in the U.S. We sought an investor that understood the shift to value-based care and could serve as a supportive and knowledgeable investment partner as our commercial efforts launched and gained traction.
Results

During TTCP’s ownership, Remedy experienced tremendous growth, increasing its Medicare spend under management from $700 million to over $6 billion and managing a combined 800,000 episodes since inception. The merger with Signify created a leading value-based care enablement platform that brings to market a combination of technology, analytics, and tech-enabled services to uniquely serve health plans and providers at scale to both steer patients to the right care setting, and drive insights and better outcomes.
 
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