Deal Details
Initial Public Offering
Summary
Baird served as a joint bookrunner on this offering.
About
Cotiviti Holdings, Inc. (“Cotiviti” or the “Company”) (NYSE: COTV) recently completed an initial public offering of 12,500,000 shares of common stock at a price of $19.00 per share, generating gross proceeds of $237.5 million. The Company intends to use the net proceeds from this offering to repay outstanding borrowings and for working capital purposes.Formed in May 2014 through the merger of Connolly and iHealth Technologies, Cotiviti is a leading provider of analytics driven payment accuracy solutions, focused primarily on the healthcare sector. The Company’s integrated solutions help clients enhance payment accuracy in an increasingly complex healthcare environment. Cotiviti leverages its robust technology platform, configurable analytics, proprietary information assets and expertise in healthcare reimbursement to help clients enhance their claims payment accuracy. The Company helps healthcare clients identify and correct payment inaccuracies, which resulted in over $2.7 billion in savings in 2015. Cotiviti works with over 40 healthcare organizations, including eight of the ten largest United States commercial, Medicare and Medicaid managed health plans, as well as CMS. Cotiviti is also a leading provider of payment accuracy solutions to over 40 retail clients, including eight of the ten largest retailers in the United States. The Company is headquartered in Atlanta, Georgia.
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- Date
- June 2016
- Company
- Cotiviti Holdings, Inc.
- Transaction
- M&A
- Sectors
- Healthcare
- Target Geography
- North America
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