Veritas Capital ended talks with Carlyle Group Inc (CG.O) to buy a 50% stake in private healthcare technology firm Cotiviti Inc on valuation grounds, Reuters reports, citing a source familiar with the matter. Carlyle wasn’t ready to stick to the valuation that had previously been discussed in the current market conditions and submitted a revised bid in recent days, which Veritas rejected, the source said.
In February, it was reported that Carlyle was in talks to buy a portion of Cotiviti from Veritas Capital at a valuation of around $15 billion. The deal was reportedly going to include a $5.5 billion private loan, one of the largest-ever direct loans in the private credit market. Read more.
