Centerbridge Partners has officially agreed to make a significant investment in health insurance marketplace, GoHealth, confirming previous market reports.
The private equity firm is expecting to close the deal in the fourth quarter of this year.
Earlier this week Reuters reported that the firm was close to a $1.5bn deal for a majority stake for the company, citing people familiar with the matter.
GoHealth provides an online health insurance marketplace for consumers and small businesses located in the United States.
Founded in 2001, the platform offers access to a range of healthcare plans including Medicare, individual, family, dental and other insurance policies.
GoHealth’s CEO Clint Jones has said the investment will allow the business to improve its balance sheet and invest in its technology.
“GoHealth is a highly differentiated industry-leader operating in rapidly expanding markets with a demonstrated track record of successfully entering new market segments and driving consistent growth,” said Centerbridge senior managing director Jeremy Gelber.
“In bridging the gap between consumers and insurance carriers, the Company provides an innovative and highly scalable service to its broad network of healthcare relationships.”
Centerbridge is also believed to be hashing out a deal to buy US-listed managed care provider Magellan Health.
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