PE Tech Report


Like this article?

Sign up to our free newsletter

Vestar affiliates complete tender offer for shares of Health Grades

Mountain Acquisition and Mountain Merger Sub, both affiliates of Vestar Capital Partners V, have completed the cash tender offer for all of the outstanding shares of common stock of HealthGrades at a purchase price of USD8.20 per share in cash, without interest and less any applicable withholding taxes.

The tender offer expired at 9am New York City time on 7 October 2010.

“Now more than ever, consumers are looking for trusted sources to help make informed healthcare choices,” says Roger Holstein, managing director of Vestar and co-head of its healthcare sector. “With more than 200 million annual visitors to the HealthGrades web sites, the company is fast becoming America’s leading source of information on physicians and hospitals. We are excited to partner with the entire HealthGrades team in their mission to help consumers make more informed healthcare choices.”

“In a world of increasing transparency and demand for decision-making data, HealthGrades is well positioned to play an important role that benefits all of healthcare’s varied constituents,” says Kerry R. Hicks, chairman and chief executive officer of HealthGrades. “With unique domain expertise, and a portfolio of leading healthcare services assets, HealthGrades is positioned for growth and expansion. Vestar will add significant, real value as we expand our franchise and continue to build our business with America’s consumers, their physicians and hospitals.”

Like this article? Sign up to our free newsletter