Datavant to Acquire Ontellus to Transform Medical Record Retrieval with Tech-Enabled Health Records Retrieval and Claims Intelligence Solutions

NEW YORK--(BUSINESS WIRE)--Datavant, a leading health data platform company, today announced that it has signed an agreement to acquire Ontellus, a leading provider of health records retrieval and claims intelligence from Aquiline, a private investment firm specializing in financial services and technology and Capstreet, a Houston-based lower middle market private equity firm. With this acquisition, Ontellus will join Datavant to deliver an integrated, digital-first platform that connects those with health records to those who need them easily, quickly and securely.

In addition to driving value to providers, freeing up more of their time to focus on patient care, this acquisition will transform the experience for requesters from a largely manual and time consuming process to a more efficient, digital process.

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The combined organization will reduce administrative burden for Datavant’s network of over 80,000 health care providers, clinics, hospitals and health system partners, who routinely manage requests for health records—vital for life insurance underwriting, injury claims, and legal case work. Today, the record retrieval process remains highly fragmented, with inconsistent workflows, procedures, and data formats across thousands of organizations. By joining forces, Datavant and Ontellus reaffirm their shared commitment to simplify this complexity and improve access to records to ensure that confidential health records are digitized in a secure and timely manner to authorized parties.

“Moving health data securely and compliantly from where it sits to where it needs to be in the right format to authorized users is one of the industry’s biggest challenges,” said Datavant CEO Kyle Armbrester. “In addition to driving value to our health care providers, freeing up more of their time to focus on patient care, this acquisition will transform the experience for requesters from a largely manual and time consuming process to a more efficient, digital process that leverages Datavant’s deep expertise in privacy preservation and compliance. We are delighted to welcome Ontellus’ world-class team and work with them to further transform the health data request process for all of our customers.”

Ontellus has digitized its records retrieval business into a nationwide platform through which record requestors have direct access to providers. Additionally, through its canvassing services, Ontellus delivers detailed claimant treatment timelines to validate claims or uncover preexisting conditions, helping customers reduce unnecessary and costly claims exposure. Datavant will join Ontellus’ capabilities with its own digital connectivity capabilities to create a highly tech-enabled integrated platform offering to better serve all customers.

Ontellus CEO, Vince Cole, will join Datavant’s Executive Leadership Team, reporting directly to Kyle Armbrester, Datavant CEO.

“By combining Ontellus’ industry-leading request fulfillment infrastructure with Datavant’s advanced connectivity and data exchange capabilities, we’re enabling faster, more precise access to critical health information—not only for healthcare providers, but also for legal and insurance professionals who rely on timely, accurate data to support claims and compliance. We are deeply grateful to our investor partners, Aquiline Capital Partners and The Capstreet Group, whose strategic guidance and resources have powered our growth and product innovation,” said Vince Cole, CEO of Ontellus.

Houlihan Lokey served as buyside financial advisor to Datavant, assisting in evaluating and negotiating the acquisition. Harris Williams is the sell-side advisor to Ontellus, representing the company in its pending sale to Datavant.

About Datavant

Datavant is a health data platform company. We make the world’s health data secure, accessible, and actionable. Datavant drives data connectivity into action by offering a proprietary platform and network that deliver critical solutions across the healthcare ecosystem. Datavant enables more than 60 million healthcare records to move between thousands of organizations, more than 80,000 hospitals and clinics, 75% of the 100 largest health systems, and an ecosystem of 300+ real-world data partners. To learn more about Datavant, visit datavant.com and follow us on LinkedIn.

About Ontellus

Ontellus empowers insurance carriers, self-insured corporations and law firms to reduce costs, make informed decisions and accelerate claims resolution. As one of the nation's largest, privately held data retrieval and claims intelligence providers, Ontellus leverages decades of experience and cutting-edge technology to deliver impactful products and client-centric services with industry-leading turnaround times. For more information, visit www.ontellus.com.