Well being Tech: Additional cash for dwelling care

Well being Tech: Additional cash for dwelling care

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Image: Eniola Odetunde/Axios

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.

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