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Xiaomi Unveils New AI Voice Model to Boost Auto, Home Tech
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Machinify to acquire Performant Healthcare for $670m
New Mountain Capital's portfolio company Machinify has signed a definitive agreement to acquire Performant Healthcare, a company in payment integrity, for around $670m. With the merger agreement, shareholders of Performant are set to receive $7.75 in cash for each outstanding share, a 139% premium over the 90-day volume-weighted average price of $3.25 as of 31 July 2025. New Mountain Capital Private Equity managing director and president Matt Holt said: 'The future of the US healthcare system requires modernisation of IT infrastructure, including patient-centric data networks. 'Performant plus Machinify plus the ecosystem of companies that we are building at New Mountain Capital will unlock the potential for a new system that is aligned with a more productive care model that is both more efficient and delivers better patient outcomes.' The acquisition is anticipated to be finalised by the end of this year, subject to closing conditions, encompassing approval from the shareholders of Performant and regulatory clearances. Machinify CEO David Pierre said: 'At Machinify, we are creating the modern, healthcare payments intelligence platform built for accuracy and transparency. 'By combining our powerful payer operating system with Performant's trusted domain expertise and differentiated data assets, Machinify will support a broader range of clients, including the Centers for Medicare and Medicaid, and state and local governments. The combined company will deliver quality, timely payments at dramatically reduced administrative costs.' Performant is required to maintain its business operations as usual until the transaction is completed. The company's board of directors has given unanimous approval for the deal. Pillsbury Winthrop Shaw Pittman is serving as legal counsel, while Truist Securities is providing exclusive financial advisory services to Performant. JP Morgan Securities is advising Machinify exclusively on financial aspects, with Ropes & Gray providing legal counsel. "Machinify to acquire Performant Healthcare for $670m" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Bedtime? Study tracks when Americans fall asleep
Is there a 'prime' bedtime? A new study found the average American falls asleep at 11:18 p.m. Conducted by Talker Research on behalf of Avocado Green Mattress, a new survey of 2,000 general population Americans explored respondents' nighttime routines and sleep habits — digging into their bedtimes. The results found that the average respondent begins their nighttime routine at 10:15 p.m., taking 21 minutes to get ready for bed, on average — meaning respondents are then tucked into bed by 10:36 p.m. But it takes about forty minutes before they actually fall asleep, as results revealed the average American doesn't drift off until about a quarter past 11 o'clock. Solve the daily Crossword