Return to search

Healthcare payment processor Cotiviti confidentially files for IPO: Reuters

(Reuters) — Healthcare payment processing and auditing company Cotiviti Corp, owned by private equity firm Advent International Corp, said it confidentially filed for an initial public offering.

The number of shares to be offered and their price range had not yet been determined, Cotiviti said in a statement. (bit.ly/1SyvtBB)

Advent has hired JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group Inc (GS.N) as lead coordinators of the offering along with five other banks, Bloomberg reported on Tuesday, citing people familiar with the matter. (bloom.bg/1Sytv4d)

Bloomberg also said Cotiviti’s IPO is likely to value the company at about $3 billion.

Cotiviti was formed when Advent’s healthcare audit firm Connolly bought iHealth Technologies in 2014.

Advent, Goldman and JPMorgan declined to comment.