Claritev (CTEV) Morgan Stanley 24th Annual Global Healthcare Conference summary

Industry trends and market environment

• Healthcare costs remain elevated, with employers facing ongoing pressure and care shifting to new venues such as urgent care, ASCs, and at-home services.

• Regulatory complexity and lack of pricing transparency persist, driving demand for solutions that address fraud, waste, and abuse.

• Self-funded plans and stable unemployment are expected to keep utilization steady, while new care models and venues expand.

• The company serves 50 million members, focusing on affordability, transparency, and access across a large provider network.

Strategic vision and transformation

• Vision 2030 guides a multi-year transformation, with 2024 as the foundation year, 2025 as the turn (new markets), and 2026–2027 as aggressive growth and modernization.

• Five consecutive quarters of year-over-year growth mark a turnaround after years of revenue decline.

• Technology modernization, including a data mesh and AI integration, underpins the strategy.

• AI is actively used, with over 30 agents deployed and a focus on leveraging proprietary data for competitive advantage.

Financial performance and growth drivers

• Bookings reached $74 million in Q2, tracking ahead of the $100 million annual target, driven by new markets and expanded go-to-market structure.

• About one-third of bookings now come from the TPA segment, a new focus area, with diversification reducing reliance on top clients.

• 75% of bookings are from the existing install base, but net new logos are increasing, with 30 added in the past 18 months.

• Revenue is expected to return to $1 billion this year for the first time in four years.