TPG agrees $1.1bn Convey Health Solutions take-private at huge share price premium | AltAssets Private Equity News
Summary
Global private equity giant TPG has agreed a $1.1bn buyout of healthcare tech and services business Convey Health Solutions. Company CEO Stephen Farrell said, “We believe this transaction provides substantial value, liquidity and certainty for our shareholders. “Going forward, as a private company and with TPG’s support, we will have the ability to continue to make investments in the company and better serve our customers.” TPG partner Katherine Wood said, “Convey is a leading, integrated payor technology platform that enables efficiency and improves clinical and financial outcomes across the healthcare system. “We look forward to continuing our partnership in its next chapter as a private company.” The transaction is expected to close in the second half of 2022. Convey is a tech and advisory partner to health plan operations, including enrolment and billing, agent and broker management, compliance monitoring and data analytics.
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