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