Well being Tech: Additional cash for dwelling care
👋 Hi there, that is Sarah. Erin is touring to my dwelling to discover the Tetons till subsequent Tuesday. I will be within the concrete jungle. As all the time, message me with suggestions, deal information, or suggestions!
Goldman Sachs and Deutsche Financial institution are engaged by Dallas-based Signify Well being to supply monetary recommendation on their Strategic Alternate options course of, Sources say Sarah.
Driving the information: About 18 months after New Mountain Capital took the health-tech firm public, The Wall Road Journal Tuesday wrote that Signify was “working with bankers” to discover choices together with a sale.
- Signify, a tech-driven value-based care supplier, might appeal to curiosity from each non-public fairness and managed care suppliers, in response to the report.
Catch up quick: Signify raised $564 million in its February 2021 IPO.
- Almost a yr after its IPO, Signify closed a $250 million deal to purchase Caravan Well being, which brings accountable care organizations collectively to take dangers and curb Medicare spending.
- Final month, Signify unveiled plans to dwindle its episodes division and ditch a bundled funds program, and mentioned it plans to deal with its worthwhile and rising House and Group Companies and Caravan companies.
Utilizing the numbers: Signify shares made the information, taking the market cap to about $4.5 billion, however are barely down immediately.
- That is down from a market cap of $7.12 billion when it debuted in public markets final yr.
- Shares are up yr over yr however previous to the report had misplaced greater than 25% because the IPO.
Signify and Goldman declined to remark, whereas a DB consultant didn’t reply to a request for remark.
