Inovalon Holdings Inc.

announced Thursday an agreement to be acquired by a group led by Nordic Capital, and including Inovalon Chief Executive Keith Dunleavy, in a cash deal valued at $7.3 billion. Under terms of the deal, Inovalon shareholders will get $41 for each Inovalon share they own, representing a 10.2% premium to Wednesday’s closing price of $37.22. Shares of the cloud-based, data-driven healthcare company was up 7.7% premarket prior to a trading halt for news, with trading expected to resume at 8:30 a.m. Eastern. Others in the acquiring group include Insight Partners, 22C Capital and certain other investors. The deal is expected to close in late 2021 or early 2022. “Today’s announcement is the culmination of a thorough process of evaluating strategic alternatives and represents a compelling opportunity to deliver immediate and more certain cash value to stockholders at a significant premium,” said William Teuber, lead independent director on Inovalon’s board. Inovalon’s stock has soared 104.8% year to date through Wednesday, while the S&P 500

has gained 17.2%.


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