Performant Healthcare, Inc. Announces Preliminary Financial Results for Second Quarter 2025
Performant Healthcare, Inc. announced preliminary financial results for the second quarter of 2025, expecting revenues of $37.8 million, net income of $2.1 million, and adjusted EBITDA of $6.2 million. Concurrently, the company revealed its definitive agreement to be acquired by Machinify, a healthcare intelligence leader, leading to the cancellation of its second-quarter earnings call and withdrawal of full-year 2025 guidance. The company, a provider of technology-enabled payment integrity services, will no longer hold its scheduled conference call.
Performant Healthcare achieves CMMI Level 3 appraisal
The article states that Performant Healthcare has achieved a CMMI Level 3 appraisal. No further details are provided in the given content.
Machinify Completes Acquisition of Performant Healthcare, Accelerating Intelligent Healthcare Payments
Machinify, a healthcare intelligence company, has completed its acquisition of Performant Healthcare, Inc. for approximately $670 million. This acquisition expands Machinify’s AI-powered platform to include government programs and enhances its capabilities in claim error detection, prevention, and recovery. The integration aims to deliver faster, more accurate insights and greater savings for health plans, with Performant CEO Simeon Kohl joining the Machinify leadership team.
Machinify completes $670 million acquisition of Performant Healthcare
Healthcare intelligence company Machinify has acquired Performant Healthcare, Inc. (NASDAQ:PHLT) for approximately $670 million, marking its second major acquisition in 2025. This acquisition will expand Machinify’s AI-powered platform to government program clients and integrate Performant’s audit and recovery capabilities to enhance payment accuracy services, leading to Performant's delisting from Nasdaq. The combined entity will provide services covering claim error detection, prevention, recovery, and coordination of benefits for both commercial and government payers.
Machinify closes $670M acquisition of Performant Healthcare to broaden its reach
Machinify has completed its acquisition of Performant Healthcare for approximately $670 million. This acquisition, backed by private equity firm New Mountain Capital, aims to expand Machinify's AI-powered healthcare payment platform to a wider range of organizations, including government programs. The integration will enhance Machinify's ability to serve commercial and government payers by combining Performant’s audit and recovery expertise with Machinify’s advanced AI, aiming for increased savings and accuracy in healthcare payments.
Machinify Closes $670M Acquisition of Nasdaq-Listed Performant Healthcare
Dallas-based healthcare intelligence company Machinify has acquired Plantation, Florida-based Performant Healthcare for approximately $670 million. This acquisition, Machinify's second major one in 2025, expands its AI-powered platform to include government programs and enhances its capabilities in claim error detection, prevention, and recovery. The integration is expected to deliver faster, more accurate insights and unlock greater savings for health plans.
Machinify Completes Acquisition of Performant Healthcare
Machinify, a healthcare intelligence company, has completed its acquisition of Performant Healthcare, Inc. (Nasdaq: PHLT) for approximately $670 million. This acquisition expands Machinify's AI-powered platform to include government programs and enhances its ability to serve both commercial and government payers with end-to-end intelligence for healthcare payment accuracy. Performant CEO Simeon Kohl will join Machinify's leadership team, and Performant's shares will no longer be publicly traded.
Performant Healthcare acquired by Continental Buyer, shares delisted from Nasdaq
Performant Healthcare Inc. announced its acquisition by Continental Buyer, Inc., resulting in the delisting of its shares from Nasdaq. The transaction, valued at approximately $623 million, provided Performant Healthcare shareholders with $7.75 in cash per share. Following the merger, Performant Healthcare became a wholly-owned subsidiary of Continental Buyer, and its board of directors resigned.
Performant Healthcare Stockholders Approve Merger Agreement - TipRanks
Performant Healthcare stockholders approved a merger agreement with Continental Buyer, Inc. on October 17, 2025, which will make Performant a wholly-owned subsidiary of Continental Buyer. This merger is anticipated to integrate Performant into Continental Buyer's corporate structure, potentially influencing its operations and market position. Analysts currently rate PHLT as a Hold with an $8.00 price target, while TipRanks' AI Analyst "Spark" considers PHLT a Neutral due to financial performance challenges.
Performant Healthcare (NASDAQ:PHLT) Sets New 1-Year High – What’s Next? - Defense World
Performant Healthcare (NASDAQ:PHLT) recently set a new 1-year high. This article details new price targets set by research firms, the company's stock performance, institutional investor activity, and a company overview.
Shareholder Alert: The Ademi Firm investigates whether Performant Healthcare Inc. is obtaining a Fair Price for its Public Shareholders
The Ademi Firm is investigating Performant (NASDAQ: PHLT) regarding potential breaches of fiduciary duty related to its transaction with Machinify. Performant shareholders are set to receive $7.75 in cash per share, totaling approximately $670 million. The investigation focuses on whether the board fulfilled its duties, particularly given the significant penalty clause for competing bids.
SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Performant Healthcare, Inc. (Nasdaq - PHLT)
Brodsky & Smith LLC has announced an investigation into Performant Healthcare, Inc. (Nasdaq - PHLT) concerning potential breaches of fiduciary duty by its Board of Directors. This investigation follows the agreement for Machinify to acquire Performant Healthcare for $7.75 per share in cash. The law firm is examining whether the Board failed to conduct a fair process and if the consideration offers fair value to shareholders.
Machinify, Inc. entered into a definitive agreement to acquire Performant Healthcare, Inc. for approximately $700 million.
Machinify, Inc. has entered into a definitive agreement to acquire Performant Healthcare, Inc. for approximately $700 million, with Performant stockholders receiving $7.75 per share in cash. The acquisition, which is expected to close by the end of 2025, will lead to Performant's delisting from Nasdaq. The transaction involves committed debt financing of approximately $715 million and has been unanimously approved by Performant's board of directors, pending customary closing conditions and regulatory approvals.
Performant Healthcare’s Massive Leap: Why This Stock Is Soaring Today
Performant Healthcare, Inc. (PHLT) stock surged 115.07% to $7.64 after announcing its acquisition by Machinify for $670 million, or $7.75 per share in cash. This represents a 139% premium over its 90-day volume-weighted average price and highlights Performant's value in healthcare payment integrity. While the deal presents opportunities for traders, risks such as regulatory hurdles or the deal falling through are present.
Performant Healthcare: Guidance Raised After Q1 Outperformance - Buy (Rating Upgrade)
Performant Healthcare reported strong Q1 2025 results, exceeding revenue and profitability expectations, leading management to raise full-year guidance. Despite the potential negative impact of losing RAC Region 5, new contracts are expected to offset lost revenues. The author upgraded Performant Healthcare's shares from "Hold" to "Buy" with a new price target of $4.50 based on improved profitability expectations for 2025 and 2026.
Performant Announces Name Change to Performant Healthcare, Inc. – Concludes Strategic Shift to Healthcare
Performant Financial Corporation has officially changed its name to Performant Healthcare, Inc. and will update its Nasdaq ticker symbol to PHLT, signaling its complete strategic shift to focus on healthcare payment integrity. This move reflects the company's commitment to delivering world-class payment integrity solutions for healthcare payer clients and follows its transition away from the Customer Care outsourced servicing business. The company aims to make a greater impact in the healthcare sector and drive robust financial results.
Performant Financial Corporation Acquires Artificial Intelligence Technology in Support of Its Scale Initatives
Performant Financial Corporation announced the strategic acquisition of key AI technology assets from RecordsOne to enhance cost containment workflows in healthcare. This move supports Performant's strategy to increase scale and efficiency by automating labor-intensive activities and improving audit accuracy. The acquisition is a significant step for Performant in its commitment to becoming a pure-play healthcare company, leveraging RecordsOne's natural language processing and advanced domain analytics.
Performant Healthcare, Inc. Ticker Symbol Change to “PHLT”
Performant Healthcare, Inc. announced a ticker symbol change from “PFMT” to “PHLT” on the Nasdaq stock exchange, effective December 18, 2024. This change reflects the company's strategic focus as a pure-play healthcare payment integrity leader. Shareholders are not required to take any action regarding this transition.
Performant Financial announces name to Performant Healthcare
Performant Financial (PFMT) has announced that it is changing its name to Performant Healthcare and will update its ticker symbol to 'PHLT'. This change reflects the company's strategic shift away from its Customer Care outsourced servicing business, which accounted for less than 5% of its total revenues in the first nine months of 2024, and will not impact operations, management, or structure.
Performant Financial Corporation Awarded New York State Medicaid RAC Contract
Performant Financial Corporation announced it has been awarded the 2023 Recovery Audit Contractor (RAC) contract for New York State's Medicaid program, a five-year agreement. This award highlights Performant's expertise in identifying and rectifying improper payments through advanced algorithms and sophisticated reviews. The company also holds three out of five CMS RAC contracts, an exclusive Medicare Secondary Payer Commercial Repayment Center contract, and is the sole audit contractor for the U.S. Department of Health and Human Services Office of the Inspector General.
Transworld Systems Inc. Acquires Certain Assets of Performant Financial Corporation
Transworld Systems Inc. (TSI) announced its acquisition of certain assets, including customer contracts, from Performant Financial Corporation. This strategic move aims to expand TSI's business in government, healthcare revenue cycle management, and financial services collection. The terms of the transaction were not disclosed.
Salem student loan collection firm caught in U.S. Department of Education ‘politics’
Windham Professionals, a Salem-based student loan collection agency, is at risk of losing a $400 million federal contract due to political entanglements involving U.S. Education Secretary Betsy DeVos and another company, Performant Financial. Despite a positive performance record, the company faces substantial workforce reductions amidst a multi-firm litigation battle and changes in federal collection policies. Windham is now endeavoring to diversify its business to mitigate the potential loss of the contract.
