PRINT THIS PAGE MatlinPatterson invests $290m in XLHealth Corporation07/08/2007. Source: AltAssets. 
 XLHealth, a Baltimore-based company focused on improving the healthcare of chronically ill seniors, has completed a private placement worth approximately $290m. The transaction closed with funding provided by MatlinPatterson Global Opportunities Partners III and MatlinPatterson Global Opportunities Partners (Cayman) III, investment partnerships managed by MatlinPatterson Global Advisors.
GS Capital Partners, the private equity arm of Goldman, Sachs & Co., will retain a stake in XLHealth.
As part of the transaction, the company has also completed its acquisition of Leprechaun, a healthcare information and clinical services company for Medicare Advantage plans.
XLHealth will use the funds for ongoing operations, to strengthen statutory capital needs for Care Improvement Plus, its special needs health plan, and to expand the company's healthcare IT division with the acquisition of Leprechaun and further development of the company's proprietary disease management software platform, XLCare.
MatlinPatterson Global Advisors has $9bn in commitments and assets under management.
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