NEW YORK: Datavant, a healthcare data collaboration platform, announced Tuesday that funds managed by Neuberger Capital Solutions and Neuberger Private Markets, along with investment funds and accounts managed by KKR, have agreed to acquire a significant minority stake in the company.

New Mountain Capital, which has been an investor in Datavant since 2014, will retain its controlling position in the company.

Financial terms of the transaction were not disclosed. The deal is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

Datavant operates what it describes as the nation’s largest health data ecosystem, enabling patients, providers, payers, health data analytics companies, patient-facing applications, government agencies and life science companies to securely exchange and organize patient-level data. The company’s ecosystem reaches more than 80,000 providers, 75 of the top 100 health systems and more than 350 ecosystem partners, with its healthcare data touching 90% of the U.S. population and 80% of Medicare Advantage plan participants.

“This partnership reflects a shared commitment to Datavant’s mission to make the world’s health data secure, accessible and actionable,” the company said in a statement.

Kyle Armbrester, CEO of Datavant, said the company was deliberate in selecting partners that align with its mission and long-term vision.

“From our work on both the supply and demand side of health data, we see the pressure points and opportunities to make it easier to move, protect and use health data across a complex and evolving environment,” Armbrester said. “With New Mountain, Neuberger and KKR by our side, we’re well equipped to deepen our impact across the healthcare ecosystem and accelerate into our next phase of growth.”

Brian Murphy and Gandhi Bedi, managing directors at New Mountain, said Datavant has become “the connective tissue for health data across the industry and is poised to lead the next era of connected data and clinical AI.”

David Lyon, head of Neuberger Capital Solutions, and Nikhil Krishnan, a managing director, said Datavant is deeply embedded across providers, payers and life sciences, with a scaled data network that would be difficult to replicate.

“Kyle and his team have earned the trust of the healthcare ecosystem through years of disciplined execution, turning that position into real efficiency and compliance gains for customers,” they said. “We look forward to working with the Datavant team, New Mountain and KKR to help write its next chapter.”

Blaine MacDougald, partner and co-head of KKR’s Strategic Investments Group, and James Paquette, a managing director, said KKR has “tremendous conviction” in Datavant’s differentiated model and market position.

“We believe it has the potential to scale even further, and we look forward to supporting the team with partnership capital that helps Datavant continue digitizing its platform and capturing attractive growth opportunities ahead,” they said.

KKR is investing in Datavant primarily through funds and accounts managed by its Strategic Investments Group.

J.P. Morgan Securities LLC served as sole placement agent and lead financial advisor to Datavant. Jefferies LLC and Wells Fargo also served as financial advisors. Ropes & Gray served as legal advisor to Datavant and New Mountain, while Latham & Watkins LLP served as legal advisor to Neuberger and KKR.

About Datavant

Datavant is a data collaboration platform for healthcare. The company works with payers, providers, life sciences, legal and insurance clients globally, enabling more than 60 million healthcare records to move between thousands of organizations. Datavant has office locations in Boston, Dallas, New York and San Diego, with international offices in Barcelona and Galway.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that manages private equity, strategic equity, credit, GP-led secondaries and net lease real estate funds with approximately $60 billion in assets under management.

About Neuberger Private Markets

Neuberger Private Markets, a division of Neuberger, has been an active private markets investor since 1987. As of March 31, 2026, it manages over $165 billion in investor commitments across primaries, co-investments, secondaries, private credit and specialty strategies, with more than 500 professionals in 11 countries.

Neuberger Capital Solutions, part of Neuberger Private Markets, provides capital solutions to private equity-owned companies. It currently manages approximately $12 billion in assets under management and has invested in more than 90 companies across its three funds.

About KKR

KKR is a global investment firm offering alternative asset management, capital markets and insurance solutions. The firm sponsors investment funds that invest in private equity, credit and real assets. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.