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Peloton Equity-backed Arcadia received $125 million in new financing from Vista Credit Partners, CEO Michael Meucci tells Axios exclusively.

Why it's the BFD: Meucci thinks the company is positioned to be cash-flow sustainable within the next year.

Details: The data orchestration platform helping health care organizations succeed in value-based care is still owned by Peloton Equity.

The financing from VCP, the credit-lending arm of Vista Equity Partners, comprises debt, according to two sources familiar.

Meucci declined to comment on the exact structure, noting only that the "vehicle is non-dilutive investment in the business and has the option to provide future incremental capital as needed."

"We are in the right spot and very well positioned," he says. "This funding buys us an enormous runway and gives us options for future strategic and/or organic growth."

Catch up quick: Axios previously reported Peloton started a sale process for the asset last August, marketing it on $80 million of ARR.

What's next: "We are going to improve our platform with new analytics content and evolving solutions, invest in customer partnerships and potentially do some inorganic growth," says Meucci.

He notes that since the company's inception in 2002, the company has seen mostly organic growth.

"We will look to acquire capabilities," he says. "With a strong balance sheet and a partner like VCP, we will have lots of additional growth avenues."

How it works: Arcadia extracts and aggregates disparate clinical and claims-based data from the EHR, providing insights and analytics for multiple use cases.

That includes helping organizations transition to value-based care by, for example, finding and closing gaps in care and managing medical costs for specific populations.

Other applications include improving risk-adjustment accuracy or payment integrity, as well as real-world data to support clinical research.

Its customers span health systems, providers, payers, ACOs and life science companies.

Driving the news: Debt is expensive in today's difficult financing market, but Peloton and Arcadia were able to find a partner willing to get creative, Meucci says.

"We chatted with 10-15 different shops and it's rare you get your first choice," says Meucci. "We knew we what we wanted in terms of structure, size and terms."

The big picture: Despite health care moving toward a value-based care framework, the old fee-for-service model is still alive and kicking.

"Fee-for-service won’t be dead for a long time," says Meucci. "Health care is complex and most providers have a shoe in each canoe."

Exclusive: Arcadia inks $125M financing with Vista Credit Partners

The company aims to be cash-flow sustainable within the next year.

Illustration of a folder with a dollar bill sign cut out of it.  

Health tech deals

Peloton Equity-backed Arcadia received $125 million in new financing from Vista Credit Partners, CEO Michael Meucci tells Axios exclusively.Why it&#x27;s the BFD: Meucci thinks the company is positioned to be cash-flow sustainable within the next year.

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Exclusive: Arcadia inks $125M financing with Vista Credit Partners

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