Houlihan Lokey Advises Datavant
Houlihan Lokey is pleased to announce that Datavant, a leading health data platform company backed by New Mountain Capital, has signed an agreement to acquire Ontellus, a leading provider of health records retrieval and claims intelligence, from Aquiline Capital Partners and The CapStreet Group. Ontellus will join Datavant to deliver an integrated, digital-first platform that connects those with health records to those who need them easily, quickly, and securely.
The combined organization will reduce administrative burden for Datavant’s network of more than 80,000 healthcare providers, clinics, hospitals, and health system partners, who routinely manage requests for health records—vital for life insurance underwriting, injury claims, and legal case work. Today, the record retrieval process remains highly fragmented, with inconsistent workflows, procedures, and data formats across thousands of organizations. By joining forces, Datavant and Ontellus reaffirm their shared commitment to simplify this complexity and improve access to records to ensure that confidential health records are digitized in a secure and timely manner to authorized parties.
Datavant is a health data platform company that makes the world’s health data secure, accessible, and actionable. Datavant drives data connectivity into action by offering a proprietary platform and network that deliver critical solutions across the healthcare ecosystem. Datavant enables more than 60 million healthcare records to move between thousands of organizations, more than 80,000 hospitals and clinics, 75% of the 100 largest health systems, and an ecosystem of 300+ real-world data partners.
Ontellus empowers insurance carriers, self-insured corporations, and law firms to reduce costs, make informed decisions, and accelerate claims resolution. As one of the nation’s largest, privately held data retrieval and claims intelligence providers, Ontellus leverages decades of experience and cutting-edge technology to deliver impactful products and client-centric services with industry-leading turnaround times.
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth—rather than excessive risk—as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $55 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.
This transaction highlights Houlihan Lokey’s continued success in healthcare technology and legal services. The firm’s Healthcare and Business Services groups are among the largest dedicated investment banking teams globally in their respective sectors. In 2024, LSEG ranked Houlihan Lokey’s Healthcare Group as the No. 1 M&A advisor for global healthcare transactions under $1 billion, with 35 deals closed.* The Business Services Group earned LSEG’s top global M&A ranking for all global business services transactions, with 86 deals completed worldwide.*
Houlihan Lokey served as buyside financial advisor to Datavant, assisting in evaluating and negotiating the acquisition.
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