JZ Capital Partners Limited (JZCP), a London listed fund that invests in US and European microcap companies and US real estate, is to sell Bolder Healthcare Solutions (BHS) to a subsidiary of Cognizant, one of the world’s leading professional services companies.
Headquartered in Louisville, Kentucky, BHS offers a full suite of healthcare revenue cycle management services to the hospital and physician marketplace in the United States. BHS was formed through a co-investment partnership between JZCP and the Edgewater Funds.
JZCP will realise approximately USD108.0 million in gross proceeds from this sale, representing an increase in net asset value (NAV) of approximately USD35.1 million, or 4.3 per cent of NAV, as of 31 January 2018.
David Zalaznick, JZCP’s Founder and Investment Adviser, says: “This will be a significant transaction that demonstrates JZCP’s ability to consistently realise key assets at, or above, NAV. Our CEO, Mike Shea, and his management team at BHS did a superb job and we appreciate all their efforts that made this such a successful transaction.”
Completion of the transaction is subject to customary closing conditions and regulatory approvals, including The Hart–Scott–Rodino Antitrust Improvements Act of 1976.
