Convey Health Solutions, which provides technology and analysis services for health plans such as Medicare and Medicaid, has announced that it will be privatized through a merger with its main shareholder, TPG Capital.
Under the terms of the agreement, the private equity firm TPG Convey will acquire all outstanding shares of common stock that are not currently owned by TPG or certain management and managing shareholders for $ 10.50 in cash per share, or about $ 1.1 billion. Consolidation is expected to close in the second half of 2022.
Stephen Farrell, CEO of Convey, said in a statement.
Founded in 2001, Convey was The first acquisition was made by TPG from New Mountain Capital in 2019 Then it came out publicly last year
Conveyor stock has risen since the deal broke down. It closed last Friday Wrap at 32 4.32 per share and গতকাল 10.36 yesterday.
“Convey is a leading, integrated peer technology platform that enables efficiency and enhances clinical and financial outcomes across the healthcare system. We look forward to continuing our partnership in the next chapter as a private company,” said Katherine Wood, TPG Partner. A statement