MultiPlan acquires Benefits Science LLC to accelerate new Data & Decision Science service line

WHO MultiPlan Corporation (NYSE: MPLN) acquires Benefits Science LLC, a next-generation data and advanced analytics company that combines modern data science, machine learning, and AI with deep expertise in healthcare to deliver solutions that reduce the cost of care and improve health outcomes.

WHAT BST’s Software as a Service (SaaS) platform offers best-in-class data and analytics capabilities that connect with over 160 carriers, plan administrators, and other healthcare stakeholders. The platform applies advanced descriptive, predictive, and prescriptive analytics to help employers, commercial health plans, and government health plans optimize decision-making and financial and clinical performance.

WHY The acquisition will combine the capabilities of two leaders in the healthcare arena to provide cutting-edge, differentiated solutions to customers across a full spectrum of healthcare channels and markets through a new Data & Decision Science service line. Furthermore, it will unlock the value of MultiPlan’s significant and expanding claims flows for in-network commercial, Medicare Advantage and other government programs, property and casualty, and supplemental insurance market

ACQUISITION MultiPlan will acquire BST for $160 million, with $140.8 million in cash and 21.6 million shares of MultiPlan common stock. A long-term $66M incentive and retention program will also be established for BST's management team. BST is expected to generate $16 million in revenue and breakeven profitability in 2023.

AVAILABILITY The acquisition has been completed, and the new Data & Decision Science service line is available for customers.

CUSTOMER TRACTION BST's machine learning algorithms and AI software currently help about 75,000 employers to predict future risk and manage health plan decisions.

KEY TAKEAWAY MultiPlan's acquisition of Benefits Science LLC provides next-gen data and advanced analytics solutions to healthcare customers across various channels and markets through a new Data & Decision Science service line.