Claritev partners with Lantern to optimize healthcare costs

MCLEAN, Va. - Claritev Corporation (NYSE: CTEV), a company specializing in healthcare technology, data, and insights, has announced a strategic partnership with Lantern, a Specialty Care Platform. The collaboration aims to integrate Claritev’s BenInsights® and HST Connect® solutions with Lantern’s Network of Excellence and TrueRateTM savings methodology to optimize healthcare costs for employers. According to InvestingPro data, Claritev, with a market capitalization of $328.5 million and annual revenue of $930.6 million, currently faces profitability challenges, making this partnership particularly significant for its growth strategy.

The partnership is designed to leverage both companies’ strengths in data analytics and cost optimization to provide employers with tools for reducing healthcare expenses while maintaining or improving the quality of patient care. Claritev’s Chairman, CEO and President, Travis Dalton, emphasized the shared commitment to improving healthcare affordability and transparency, noting the potential for delivering meaningful savings for employer groups. The company’s stock has shown significant momentum, with InvestingPro reporting a remarkable 130% price return over the past six months, despite current operational challenges. InvestingPro subscribers can access 8 additional key insights about Claritev’s financial position and growth prospects.

Claritev’s BenInsights will benefit from the integration by gaining access to Lantern’s surgical network, enhancing visibility into surgical cost variations and providing opportunities for optimized care pathways. Additionally, HST Connect will incorporate Lantern’s network and services to guide patients to high-quality, cost-effective providers, improving the patient experience and care.

Lantern’s President, Dickon Waterfield, highlighted the significance of the partnership, stating that it will transform innovative insights into actionable tools for specialty care cost savings.

The press release indicates that surgery accounts for a significant portion of an employer’s health spend, and the partnership seeks to address the challenge of decoding pricing for these medical episodes. The collaboration is based on previous joint research between the two companies and builds upon their respective expertise in healthcare services.

Claritev, formerly known as MultiPlan, has a history of over 40 years in claims processing data and offers a range of solutions to various stakeholders in the healthcare system, including payors, employers, patients, providers, and third parties. Lantern focuses on connecting patients with top specialists for surgery, cancer care, infusions, and more, offering quality care with cost savings to employers and their workforces. InvestingPro analysis indicates the company maintains a "Fair" overall financial health score of 2.18 out of 5, with particular strengths in relative value and profit potential. For detailed insights into Claritev’s financial position and future prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

This partnership represents a significant development in the healthcare industry’s efforts to improve cost efficiency and transparency. The information is based on a press release statement from Claritev Corporation.

In other recent news, Claritev Corporation reported mixed fourth-quarter results for 2024, with annual revenue reaching $930.6 million, marking a 3.2% decrease from the previous year. The company also provided guidance for 2025, indicating potential revenue decline or flat growth, with expectations of sequential revenue and EBITDA growth throughout the year. Piper Sandler analyst Jessica Tassan raised the price target for Claritev shares to $19 from $10, maintaining a Neutral rating, reflecting on the impact of recent healthcare regulations. Citi analysts also adjusted their outlook on Claritev, formerly known as Multiplan, increasing the price target to $21 from $12.50, while keeping a Neutral rating, following the company’s fourth-quarter results and fiscal year 2025 guidance.

Claritev announced changes to executive compensation, including updates to employment agreements for the CFO and CEO, with severance arrangements in place for other executives. The amendments align with the company’s ongoing transformation and efforts to align executive incentives with shareholder interests. The company recently appointed Jason Kap, a technology veteran, to its Board of Directors, aiming to enhance its platform through strategic investments and partnerships. This appointment aligns with Claritev’s strategy to improve affordability, transparency, and fairness in healthcare. These developments reflect Claritev’s focus on transformation and strategic growth in the healthcare technology sector.

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