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UPDATE 1-Private equity firm Veritas weighs sale of Cotiviti - Bloomberg News

Reuters
·1 min read

(Adds Veritas response)

Dec 7 (Reuters) - Private equity firm Veritas Capital is exploring a sale of Cotiviti Corp that could secure a valuation of over $15 billion for the healthcare analytics company, Bloomberg News reported https://www.bloomberg.com/news/articles/2021-12-07/veritas-is-said-to-explore-sale-of-health-it-firm-cotiviti?srnd=premium-asia&sref=ZoyErlU1 on Tuesday, citing people with knowledge of the matter.

The firm had earlier been considering an IPO of Cotiviti, but is now weighing a sale due to a bout of volatility in the stock market, the report said.

Veritas declined to comment on the report.

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An official sales process could start as soon as January, the report added.

Cotiviti, which went public in 2016, was acquired by Veritas in 2018 https://www.reuters.com/article/us-cotiviti-m-a-veritas-idUSKBN1JF1P4 in a take-private deal valued at $4.9 billion, as the PE firm looked to expand its Verscend healthcare IT business. (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber and Ramakrishnan M.)