Veritas Capital reportedly set to snap up Cotiviti for $4.9bn


Veritas Capital is set to acquire healthcare analytics company Cotiviti Holdings Inc for $4.9bn, Reuters has reported.

Cotiviti provides payment accuracy and analytics-driven services to the insurance and healthcare markets.

The company’s stock price jumped from $39 on Monday to $44 after the announcement on Tuesday.

Veritas has over $9.5bn of assets under management and has made more than 80 portfolio investments.

The New York-based firm typically invests in companies providing technology-enabled solutions to governments and commercial customers.

In April the firm agreed to buy GE Healthcare’s value-based care division for $1.05bn.

Last year Veritas closed its oversubscribed sixth fund at it $3.55bn hard cap after just four months on the market.

Copyright © 2018 AltAssets