Cotiviti, Inc.
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Cotiviti, Inc. - overview
Established
2014
Location
South Jordan, UT, US
Primary Industry
Software
About
Established in 2014, and based in Utah, US, Cotiviti, Inc. was formed through the the merger between Connolly and iHealth Technologies in 2014. The company operates as an analytics company that provides payment accuracy solutions for retailers and healthcare payers in the US and internationally. In April 2014, Connolly LLC, a portfolio company of Advent International, and iHealth Technologies Inc, a portfolio company of GS Capital and Oak Investment Partners, agreed to merge to form Cotiviti LLC.
Then, in 2018, the firm formerly known as Verscend Technologies purchased Cotiviti Holdings, Inc and merged the two companies into a single private organization called Cotiviti. The company's President, and Chief Executive Officer is Emad Rizk. Additionally, in February 2024, KKR agreed to acquire Cotiviti, Inc. from Veritas Capital through recapitalization.
As part of the transaction, Veritas Capital will reinvest in the company. The transaction will value the company at USD 10. 5 billion. Cotiviti’s offerings include healthcare analytics, payment accuracy, risk adjustment, and quality and performance solutions such as dental claim accuracy, FWA validations, and medical record coding.
These services are used by health plans, providers, and other risk-bearing entities like health insurance companies to better understand the health and risk of their populations in order to improve quality, lower costs, and ensure payment accuracy.
Current Investors
Veritas Capital, Verscend Technologies (Cotiviti)
Primary Industry
Software
Sub Industries
Healthcare IT, Analytics & Performance Software, Accounting/Finance Software
Website
www.cotiviti.com/
Verticals
HealthTech
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Cotiviti, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Cotiviti, Inc. | - | ||||||||
| Add-on, Public to Private, Trade Sale | Completed | Cotiviti, Inc. | - | ||||||||
| Private Placement/Follow on | Completed | Cotiviti, Inc. | - | ||||||||
| IPO | Completed | Cotiviti, Inc. | - | ||||||||
| Merger | Completed | Connolly LLC, iHealth Technologies | - |
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