Carlyle Group is in talks to buy health tech giant Cotiviti for nearly $15 billion, including debt, from Veritas Capital, as reported by Bloomberg and confirmed by Axios.
The deal would include a $5.5 billion private loan, one of the largest-ever direct loans in the private credit market.
Goldman Sachs is providing sell-side advice to Veritas, sources told Axios.
A deal will depend on Carlyle’s ability to secure financing, Bloomberg reports.
Veritas took Cotiviti private in 2018 for about 4.9 billion, only to test its public market readiness three years later, when it reportedly explored a dual process for the asset.
Cotiviti’s software solutions are designed to improve the financial and quality performance of health care providers.
If the deal is done at the terms being discussed, it may be a harbinger for structures to come, especially as the syndicated financing markets remain cool.
Carlyle declined comment. Veritas and Goldman did not return requests for comment. Read more.
