Neuberger Capital Solutions and Neuberger Private Markets, together with funds managed by KKR's Strategic Investments Group, have agreed to acquire a significant minority stake in Datavant, the health data collaboration platform, according to a Monday announcement.
New Mountain Capital, which has invested in Datavant since 2014, will retain its controlling position following the transaction. The deal is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
Datavant provides data exchange services spanning clinical care, value-based payments, health analytics and medical research. The company says its platform reaches approximately 80,000 providers, 75 of the top 100 U.S. health systems and 350 ecosystem partners. Datavant further states that its healthcare data touches 90% of the U.S. population and 80% of Medicare Advantage plan participants. Its user base includes patients, providers, payers, health data analytics companies, patient-facing applications, government agencies and life science firms.
"We were deliberate in choosing the best strategic partners for our business, who align with our mission and believe strongly in our long-term vision," said Kyle Armbrester, Datavant's chief executive officer.
Neuberger Capital Solutions manages roughly $12 billion in assets across three funds and has invested in more than 90 companies. Neuberger Private Markets reported over $165 billion in investor commitments as of March 31, 2026. KKR & Co. Inc. trades on the New York Stock Exchange under the ticker KKR.
J.P. Morgan Securities LLC served as sole placement agent and lead financial advisor to Datavant. Jefferies LLC and Wells Fargo acted as additional financial advisors. Ropes & Gray provided legal advice to Datavant and New Mountain Capital, while Latham & Watkins LLP advised Neuberger and KKR.
