Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
08.07.25
A team of Pillsbury lawyers led by Mergers & Acquisition partners David Lillevand and Patrick Devine advised Performant Healthcare, Inc. (Nasdaq: PHLT), a leading provider of technology-enabled payment integrity, eligibility and related analytics services, on its entry into a definitive agreement to be acquired by Machinify, a healthcare intelligence leader and portfolio company of New Mountain Capital.
The transaction is valued at approximately $670 million.
Pillsbury has represented Performant in a range of strategic and capital markets transactions as well as ongoing corporate related matters since being engaged by Performant in connection with its initial public offering in 2012.
The transaction is expected to close by the end of 2025, subject to the satisfaction of customary closing conditions, including the approval of Performant’s stockholders and receipt of applicable regulatory approvals.
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In addition to Lillevand and Devine, the Pillsbury deal team included Corporate counsel Jack Welch and associates Isabella Borges and Carissa Lee; Antitrust & Competition partner Michael Sibarium and attorney Evan Storm; Executive Compensation & Benefits partners Colleen Lamarre and Christine Richardson; Finance partner Joseph Fastiggi; Tax partner Julie Divola; and Regulatory partner Meghan Doherty.