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TPG to take healthcare tech firm Convey private for $1.1bn

When the deal closes, Convey will no longer trade on the New York Stock Exchange.

  • Convey shareholders will receive $10.50 per share in cash
  • The transaction is expected to close in the second half of 2022
  • Centerview Partners is acting as financial advisor 

TPG has agreed to acquire Convey Health Solutions Holdings Inc, a healthcare technology and services company, in a take private deal of about $1.1 billion.

Convey shareholders will receive $10.50 per share in cash.

Stephen Farrell, CEO of Convey, lauded the deal. “We believe this transaction provides substantial value, liquidity and certainty for our shareholders,” he said in a public statement. “Going forward, as a private company and with TPG’s support, we will have the ability to continue to make investments in the company and better serve our customers.”

The transaction is expected to close in the second half of 2022. When the deal closes, Convey will become a private company and no longer be publicly listed or traded on NYSE.

Davis Polk & Wardwell LLP is acting as legal counsel to TPG. Centerview Partners is acting as financial advisor to the Special Committee and Simpson Thacher & Bartlett LLP is acting as its legal counsel. Cravath, Swaine & Moore LLP is acting as legal counsel to Convey.