A consortium led by Nordic Capital including Insight Partners has agreed to acquire healthcare software maker Inovalon in a $7.3 billion deal.
Under the terms of the definitive agreement signed by the companies, Inovalon shareholders will receive $41 per share in cash, which is a premium of 25.3% over the closing price of Class I Inovalon stock.
Inovalon provides cloud-based platforms to enable data-driven healthcare and will maintain its headquarters in Bowie, Maryland, US, upon completion of the transaction.
The Inovalon ONE platform is used to collect and analyze healthcare data from researchers and service providers in real time.
This helps improve operational transparency, clinical quality metrics, risk score accuracy, patient engagement, outcomes and economic performance.
Subject to the usual closing conditions, which include approval by shareholders and US antitrust regulators, the deal is expected to close late this year or early next.
Inovalon will become a private company upon completion of the transaction and will have the flexibility to focus on strategies to improve innovation and develop the global market.
“For more than two decades, Inovalon has developed technologies that enable the communication, aggregation, and analysis of healthcare data to enable better clinical outcomes and economies across the healthcare ecosystem,” said Keith Dunleavy, Founder, CEO, and Chairman of Inovalon Corporation.
