Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
10.21.25
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 the closing of its acquisition 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 acquisition unites Performant’s audit and recovery expertise with Machinify’s advanced AI platform to deliver faster, more accurate insights, reduce administrative burden and enhance end-to-end intelligence for commercial and government payers across claim detection, prevention, recovery and benefits coordination. Additionally, Performant CEO Simeon Kohl will remain with the company, joining the Machinify leadership team.
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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 partners Joseph Fastiggi and Philip Tendler and senior associate Terrel Ferguson; Tax partner Julie Divola; and Regulatory partner Meghan Doherty.