Performant Healthcare, Inc. (NASDAQ: PHLT) witnessed a significant rally in its share price after confirming an acquisition agreement with Machinify, a healthcare intelligence leader backed by New Mountain Capital. The stock price of PHLT was $7.59 at the time of the latest check, representing a remarkable 113.80% increase.
According to the deal, Performant is worth around $670 million, and stockholders will get $7.75 in cash per share, which is about 139% more than its 90-day volume-weighted average price of $3.25 as of July 31, 2025.
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The Board Supports the Strategic Direction
The choice was made after a careful analysis of strategic options, including the potential to remain an independent business. Following a thorough analysis, the senior leadership and board of directors unanimously concluded that the purchase offers the best possible outcome for clients, workers, and shareholders.
The transaction demonstrates Performant’s transformation from a specialist in payment integrity to a market leader catering to a wide spectrum of healthcare payers.
Machinify’s Synergy and Strategic Vision
Machinify, known for its advanced Payer Operating System, aims to integrate Performant’s deep domain expertise and data capabilities to create a robust healthcare payments intelligence platform.
The Centers for Medicare & Medicaid Services and other state and local agencies are among the clients that the united organization is anticipated to improve services for. Through this partnership, the larger healthcare ecosystem will be strengthened by ensuring quicker, more accurate payments at far reduced administrative expenses.
Transaction Details and Future Outlook
The acquisition is consistent with Machinify’s investing strategy, which focuses on lowering healthcare inefficiencies through better data use and cutting-edge technology. Performant and Machinify’s integration is positioned to provide a patient-centric care approach with enhanced efficiency and results while modernizing IT infrastructure.
The deal is anticipated to be completed by the end of 2025, pending regulatory and shareholder approvals. Following completion, the business will continue to operate under Machinify’s ownership structure and Performant’s shares will be delisted from the Nasdaq.
