Private equity investor Nordic Capital has acquired healthcare data analytics company Arcadia. Nordic will become the company's majority owner, which marks an exit for former investor Peloton Equity.
Financial details of the deal were not disclosed.
Arcadia offers a healthcare data platform that integrates data from across the industry and uses artificial intelligence, advanced analytics and performance benchmarks to help insurers and healthcare organizations improve outcomes and quality and save money.
The transaction is expected to close in the second half of 2025 subject to customary regulatory approvals and closing conditions.
With the acquisition, Nordic Capital is placing a big bet on AI and advanced analytics in healthcare. The strategic partnership will accelerate Arcadia’s growth and broaden its impact, the companies said.
For Arcadia, the private equity investor brings deep expertise and resources to accelerate the health tech company's expansion and platform innovation. "Nordic Capital brings a proven track record of investing in and scaling high-growth companies within the healthcare and technology space, building sustainable companies that improve the markets in which they operate," the company said in a press release.
“Nordic Capital’s investment is a powerful endorsement of the strength of Arcadia’s platform and confidence in our ability to deliver value by improving outcomes and reducing costs," said Michael Meucci, president and CEO of Arcadia, in a statement. "This milestone marks a new phase of growth for Arcadia, grounded in the same mission, but with even stronger backing to scale smarter, invest faster, and accelerate innovation to meet the growing demand for data-driven intelligence in healthcare.”
Arcadia works with national and regional health systems and payers, along with governmental organizations, including Aetna, Highmark Blue Cross Blue Shield, Intermountain Health, Ochsner Health, and the State of California. Arcadia’s portfolio of provider, payer, government and life science customers totals nearly 200.
The company has been building out its capabilities through M&A.
A year ago, it bought CareJourney to offer its customers a more comprehensive suite of value-based technology. That deal combined Arcadia's data solutions, analytics and workflow tools with CareJourney's cost, quality and benchmark data.
Arcadia works with payers and providers to provide data-driven insights based on customer-specific data to help drive adoption and success in value-based care arrangements. CareJourney, founded 10 years ago, derives analytics from Medicare, Medicaid, Medicare Advantage and commercial claims data across more than 300 million beneficiaries and over 2 million providers nationwide.
The integration of the two companies' technologies helps drive Arcadia’s vision to build an interoperable data platform, Meucci told Fierce Healthcare a year ago.
In Aril 2023, Arcadia picked up $125 million in financing from Vista Credit Partners to accelerate platform innovation and growth in the healthcare data analytics market.