citybiz+ Union Healthcare Takes Strategic Investment From New Mountain Capital

Washington, D.C.-based Union Healthcare Insight, a healthcare research company, has announced a strategic investment from affiliates of New Mountain Capital LLC, a New York-based investment firm with about $55 billion in assets under management. Financial terms were not disclosed.

New Mountain and its Boston-based executive advisor Robert Musslewhite, former CEO and chairman of The Advisory Board Company, will support Union across the next phase of growth by providing investment that will significantly expand the scope of its research and product capabilities, the companies said in a release.

‘Independent Insights’

“When my co-founders and I launched Union, it was on the firm conviction that healthcare leaders desperately need objective and independent insight, without fear or favor,” said Union CEO Christopher Kerns, whose 17-year stint at The Advisory Board partly overlapped with that of Musslewhite’s.

“We view our job as to not only present the truth of the healthcare landscape as it exists today, but also reveal what lies ahead, with all of the unexpected twists and turns our industry often takes,” added Kerns, an alumnus of the University of Maryland’s Robert H. Smith School of Business. “We are tremendously excited to join forces with New Mountain to accelerate our work across healthcare and build the leading source of strategic insight for leaders across the industry.”

Musslewhite, who has also served as CEO of OptumInsight, has over 25 years’ experience in healthcare technology, and will directly partner with Union’s leadership team to help guide the company’s growth and innovation.

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Growth Prospects
“Given all the forces at work in healthcare today, it has never been more important to have a trusted and independent source of ‘True North’ to guide the strategy and decisions of institutional leaders in all corners of the industry,” said Musslewhite. “I’m thrilled to have the opportunity to work more closely with Christopher and the team at Union to continue expanding their world-class healthcare research to many more clients and into many more key domains.”

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New Mountain’s leadership expressed confidence in the prospects for Union.

“We are excited to partner with Christopher Kerns, Robert Musslewhite, and the entire Union team to build a leading healthcare focused insights and data platform,” said Matt Holt, managing director and president for Private Equity at New Mountain. “We are impressed by the business and membership that Union has already built, and we are excited to support the team in this next stage of growth.”