Houlihan Lokey Advises Finvi

Houlihan Lokey is pleased to announce that Artiva HCx, a division of Finvi and a revenue cycle workflow platform for healthcare providers and outsourcers, has been acquired by VisiQuate, a portfolio company of Accel-KKR. This transaction closed on October 20, 2026.

The combination expands VisiQuate’s revenue cycle platform with Artiva HCx’s workflow capabilities, the experienced team that built and runs them at scale, and the clients they serve. Building on VisiQuate’s 17 years of revenue cycle intelligence, the acquisition advances the company’s long-term vision of making the hardest parts of the revenue cycle visible and solvable. Pairing VisiQuate’s data expertise, intelligence, and automation capabilities with Artiva HCx’s workflow expertise yields a platform that combines data ontology, workflow orchestration, and intelligence and automation to prevent avoidable denials, recover revenue sooner, and reduce manual effort. With the support of Accel-KKR, which partnered with VisiQuate in 2024, VisiQuate plans to continue investing in the VisiQuate and Artiva HCx product suites and their integration.

Artiva HCx routes and runs insurance follow-up, denial management, and collections work for healthcare providers and outsourcers. Revenue cycle teams rarely lack data about denials and unpaid accounts. What they lack is a reliable way to put the right work in front of the right person, or trigger the right automation, before a denial happens or revenue is written off. With VisiQuate’s analytics and AI, which prioritize revenue opportunities by value and root cause, track payor policy changes, and show where revenue is at risk, Artiva HCx clients will have access to reporting, intelligence, and automation that augment the workflows they already run, helping teams decide which issues to work first and why, reduce manual work, and demonstrate the results their efforts deliver. For VisiQuate clients, the acquisition adds experienced revenue cycle workflow talent and solutions behind the analytics, AI, and automation they use today.

Finvi, formerly Ontario Systems, is a provider of enterprise workflow automation and revenue recovery technology for healthcare, accounts receivable management, and financial services organizations. Finvi is a portfolio company of New Mountain Capital.

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, GP-led secondaries, and net lease real estate funds with approximately $60 billion in assets under management.*

VisiQuate is a provider of revenue cycle analytics, AI-powered workflow, and automation software for hospitals and health systems. Combining data curation, AI and machine learning, advanced analytics, and intelligent process automation, the company helps revenue cycle teams improve financial performance and reduce process waste. VisiQuate is headquartered in Santa Rosa, California, and is a portfolio company of Accel-KKR.

Accel-KKR is a technology-focused investment firm with more than $24 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses well positioned for top-line and bottom-line growth, partnering with middle-market management teams and providing a broad range of capital solutions, including buyout capital, minority growth investments, and credit alternatives. Accel-KKR is headquartered in Menlo Park, with offices in Atlanta, Chicago, London, and New York.

Houlihan Lokey served as the exclusive sellside advisor to Finvi and New Mountain Capital. This transaction illustrates our Healthcare Technology team’s leadership position and represents the 23rd transaction we have advised on in the past two years, comprising ~$12 billion in aggregate enterprise value.