JZ Capital Partners is looking to sell its stake in revenue management company Bolder Healthcare Solutions for up to $108m.
The buyer is a subsidiary of Cognizant, a professional services company that develops solutions across the banking, financial services, communications, education, consumer goods and energy industries.
This sale would see an increase in net asset value of around $35.1m, which is around 4.3 per cent.
Kentucky-headquartered Bolder develops healthcare revenue cycle management services for the US hospital and physician space. The company was initially formed through a co-investment by JZ Capital and Edgewater Funds.
Bolder offers healthcare providers with tools for revenue management, worker compensation, collections, self-pay and third-party liability. The self-pay solution helps to support patients paying health bills, using analysis to determine financial assistance, propensity to pay, to ensure optimal cash collection.
JZ Capital Partners founder and investment adviser David Zalaznick said, “This will be a significant transaction that demonstrates JZCP’s ability to consistently realise key assets at, or above, NAV. Our CEO, Mike Shea, and his management team at BHS did a superb job and we appreciate all their efforts that made this such a successful transaction.”
Late last month, workforce health management company Collective Health bagged $110m iin funding from a group of investors which included Sun Life Financial and Mubadala Ventures. This capital was raised to support the expansion plans for its technology.
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