MultiPlan agrees to Hellman & Friedman acquisition

MultiPlan, Inc. has signed a deal allowing affiliates of Hellman & Friedman to acquire control of the company from Starr Investment Holdings, LLC and Partners Group, the company said.

Terms of the transaction were not disclosed.

Starr and Partners Group will retain minority investments in the company on behalf of their clients.

Founded in 1980, MultiPlan provides transaction-based solutions that reduce medical costs. The company uses technology, analytics and data to generate over USD13 billion in savings annually for commercial, property and casualty, and government payers of medical claims. Its solutions reduce about 40 million medical bills annually through analytics- and network- based cost containment strategies, and analyze well over 300 million bills to identify opportunities for improved claims payment integrity.

As part of the transaction, GIC, Singapore´s Sovereign Wealth Fund, and Leonard Green & Partners will invest alongside Hellman & Friedman. Barclays, Goldman, Sachs & Co. and Simpson Thacher & Bartlett are advising Hellman & Friedman. J.P. Morgan Securities LLC and Kirkland & Ellis LLP are advising MultiPlan and the seller.

MultiPlan provides technology-enabled healthcare cost management solutions.

Hellman & Friedman is private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, Hellman & Friedman has raised over USD35 billion of committed capital. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including healthcare, financial services, software, internet & media, business & information services, energy & industrials and retail & consumer.

Starr Investment Holdings is a multi-billion dollar New York-based investment adviser that leverages the Starr Companies´ duration-agnostic capital together with that of select institutions and family offices.

Partners Group is a global private markets investment management firm with over USD 50 billion (EUR 46 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors.

Partners Group is headquartered in Zug, Switzerland, and has offices in San Francisco, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 800 people.