August 20, 2021 (Investorideas.com Newswire) Inovalon Holdings Inc. shares traded 8% larger after the cloud healthcare know-how platform agency reported it entered into an settlement to be acquired by an fairness consortium led by Nordic Capital and Perception Companions for $41.00 per share in money.
Cloud platform healthcare know-how firm Inovalon Holdings Inc. (INOV:NASDAQ), as we speak announced that “it has entered right into a definitive settlement to be acquired by an fairness consortium led by Nordic Capital and joined by Perception Companions, as lead co-investor, 22C Capital, and Inovalon founder and CEO Keith Dunleavy, M.D. and sure Class B stockholders of Inovalon in an all-cash transaction with an enterprise worth of roughly $7.3 billion.”
The corporate acknowledged that beneath the phrases of the buyout settlement, Inovalon Holdings shareholders will obtain $41.00 per share in money for every Class A or Class B share presently owned. The agency suggested that the $41.00 share worth represents a 25.3% premium over the closing worth of Inovalon’s Class A shares on July 26, 2021.
Inovalon acknowledged that the transaction phrases and particulars have been evaluated by unbiased members of the corporate’s Board of Administrators, who based mostly their choice on the unanimous advice from a particular committee of unbiased administrators who have been tasked with negotiating the phrases, circumstances, and worth.
The agency acknowledged that when the transaction is accomplished, Inovalon will develop into a personal entity giving it elevated flexibility to pursue strategic alternatives to increase its market and innovation. The corporate indicated that Keith Dunleavy, M.D. will proceed to personal a major stake within the firm and can function CEO and as a board member.
William J. Teuber, Jr., Lead Impartial Director of the board and chair of the Particular Committee remarked, “Immediately’s announcement is the fruits of an intensive strategy of evaluating strategic options and represents a compelling alternative to ship quick and extra sure money worth to stockholders at a major premium…Throughout our analysis it turned clear that not solely is the consortium led by Nordic Capital providing our shareholders compelling worth, in addition they have a deep appreciation for Inovalon’s cloud-based platforms and information capabilities, in addition to an appreciation for the folks, mission, and the worth affect of the corporate.”
Inovalon’s Founder, CEO and Chairman Keith Dunleavy, M.D., commented, “For greater than 20 years, Inovalon has developed applied sciences that allow the connectivity, aggregation, and evaluation of healthcare information to empower higher medical outcomes and economics throughout the healthcare ecosystem…We’re excited to enter the following chapter in Inovalon’s journey along with such nice companions as Nordic Capital, Perception Companions, and 22C Capital.”
“Their important expertise within the areas of software program, information, and healthcare is essential. This, along with their longer-term focus, operational expertise and worldwide perspective, is an thrilling mixture for what we see in entrance of us,” Dr. Dunleavy added.
Fredrik Näslund, Companion, Nordic Capital Advisors acknowledged, “As a number one healthcare and know-how investor, Nordic Capital has lengthy admired Inovalon’s management throughout the healthcare ecosystem and its cloud-based instruments leveraging superior information analytics to meaningfully empower its prospects and the sufferers they serve.”
The corporate suggested that that the transaction is predicted to shut in late 2021 or early 2022 however stays topic to bizarre closing circumstances, shareholder approval, and receipt of U.S. antitrust approval.
Nordic Capital was described within the report as a number one non-public fairness firm that invests within the areas of healthcare, know-how and funds, monetary companies, and sure industrial and enterprise companies. Since inception, Nordic has invested better than 17 billion euros in about 120 totally different investments. The agency has places of work in Sweden, Denmark, Finland, Norway, the U.Ok., Germany, and the U.S.
Perception Companions is a worldwide enterprise capital and personal fairness agency that invests in high-growth know-how and software program ScaleUp firms. The report mentions that the agency has raised greater than $30 billion in capital commitments and has invested in over 400 firms worldwide.
Inovalon is predicated in Bowie, Md., and is a supplier of data-driven, cloud-based platforms fashions for the healthcare business. The corporate claimed that “its Inovalon ONE® Platform brings to {the marketplace} a national-scale functionality to interconnect with the healthcare ecosystem, mixture and analyze information in actual time, and empower the applying of ensuing insights to drive significant affect on the level of care.” The agency acknowledged that nearly anybody who’s concerned in healthcare can profit from utilizing its platform’s capabilities. Particular functions can be found for well being plans, service suppliers, diagnostic firms, life sciences firms, and pharmacy organizations. The agency gives know-how and assist to round 500 healthcare organizations. The corporate’s platforms interface with information built-in from 941,000 physicians, 483,000 medical amenities, 243 million Individuals, and 38 billion medical occasions.
Inovalon Holdings began off the day with a market capitalization of round $5.8 billion with roughly 156.3 million shares excellent. INOV shares opened 8.5% larger as we speak at $40.40 (+$3.18, +8.54%) over yesterday’s $37.22 closing worth and reached a brand new 52-week excessive worth this morning of $40.50. The inventory traded as we speak between $40.20 and $40.50 per share and closed for buying and selling at $40.32 (+$3.10, +8.33%).
Disclosure:
1) Stephen Hytha compiled this text for Streetwise Stories LLC and gives companies to Streetwise Stories as an unbiased contractor. He or members of his family personal securities of the next firms talked about within the article: None. He or members of his family are paid by the next firms talked about on this article: None.
2) The next firms talked about on this article are billboard sponsors of Streetwise Stories: None. Click on here for vital disclosures about sponsor charges.
3) Feedback and opinions expressed are these of the precise consultants and never of Streetwise Stories or its officers. The knowledge supplied above is for informational functions solely and isn’t a advice to purchase or promote any safety.
4) The article doesn’t represent funding recommendation. Every reader is inspired to seek the advice of together with his or her particular person monetary skilled and any motion a reader takes because of data introduced right here is his or her personal duty. By opening this web page, every reader accepts and agrees to Streetwise Stories’ phrases of use and full authorized disclaimer. This text isn’t a solicitation for funding. Streetwise Stories doesn’t render common or particular funding recommendation and the knowledge on Streetwise Stories shouldn’t be thought-about a advice to purchase or promote any safety. Streetwise Stories doesn’t endorse or advocate the enterprise, merchandise, companies or securities of any firm talked about on Streetwise Stories.
5) Infrequently, Streetwise Stories LLC and its administrators, officers, staff or members of their households, in addition to individuals interviewed for articles and interviews on the location, could have a protracted or quick place in securities talked about. Administrators, officers, staff or members of their quick households are prohibited from making purchases and/or gross sales of these securities within the open market or in any other case from the time of the choice to publish an article till three enterprise days after the publication of the article. The foregoing prohibition doesn’t apply to articles that in substance solely restate beforehand revealed firm releases.
6) This text doesn’t represent medical recommendation. Officers, staff and contributors to Streetwise Stories aren’t licensed medical professionals. Readers ought to all the time contact their healthcare professionals for medical recommendation.
Extra Information:
This information is revealed on the Investorideas.com Newswire – a worldwide digital information supply for buyers and enterprise leaders
Disclaimer/Disclosure: Investorideas.com is a digital writer of third occasion sourced information, articles and fairness analysis in addition to creates authentic content material, together with video, interviews and articles. Authentic content material created by investorideas is protected by copyright legal guidelines apart from syndication rights. Our website doesn’t make suggestions for purchases or sale of shares, companies or merchandise. Nothing on our websites ought to be construed as a proposal or solicitation to purchase or promote merchandise or securities. All investing entails danger and attainable losses. This website is presently compensated for information publication and distribution, social media and advertising and marketing, content material creation and extra. Disclosure is posted for every compensated information launch, content material revealed /created if required however in any other case the information was not compensated for and was revealed for the only curiosity of our readers and followers. Contact administration and IR of every firm straight relating to particular questions.
Extra disclaimer information: https://www.investorideas.com/About/Disclaimer.asp Study extra about publishing your information launch and our different information companies on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
World buyers should adhere to rules of every nation. Please learn Investorideas.com privateness coverage: https://www.investorideas.com/About/Private_Policy.asp
