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Carlyle targeting deal for healthtech firm

Private investment firm Carlyle Group Inc is in negotiations to acquire private healthcare technology firm Cotiviti Inc for a purchase price close to $15 billion, including debt, from Veritas Capital, according to a report by Bloomberg.

The report cites an unnamed source as revealing that Carlyle is hoping to partner with another investment firm to complete the deal, and is also working with private credit firms to arrange around $5.5 billion of financing for the potential deal. If successful, that would re one of the largest ever direct loans, or non-bank buyout loans arranged in the private credit market, according to data compiled by Bloomberg.

Atlanta-based Cotiviti provides payment accuracy and analytics services to health insurers and other healthcare companies.

Cotiviti, which went public in 2016, and was subsequently acquired by Veritas in 2018 in a $4.9 billion take-private deal, provides payment accuracy and analytics services to health insurers and other healthcare companies.

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