Acquirer: Nordic Capital (Sweden); Insight Partners (U.S.)
Acquired: Inovalon Holdings, Inc. (U.S.)
Value: $7.3 billion
Industry Tags: Healthcare; Data Analytics; Network and Data Solutions
On August 19, 2021, Inovalon Holdings, Inc., a publicly traded (Nasdaq: INOV) “provider of cloud-based platforms empowering data-driven healthcare,” announced that it “entered into a definitive agreement to be acquired by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and Chief Executive Officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon in an all-cash transaction with an enterprise value of approximately $7.3 billion.” (Press Release, Inovalon Holdings, Inc., Form 8-K, Ex-99.1, Aug. 19, 2021 SEC Filing.) The parties are required to submit a declaration filing to CFIUS by September 2, 2021, and CFIUS Clearance is a condition to the transaction; however, “CFIUS Clearance” includes if “CFIUS has informed the parties that it is unable to conclude action” based on the declaration filing, but “has not requested that the parties file a written notice . . .” (Sections 1.01(a), 6.22(a)(c), 7.01(b) Agreement and Plan of Merger, Inovalon Holdings, Inc., Form 8-K, Ex-2.1, Aug. 19, 2021, SEC Filing.) On November 24, 2021, the parties “completed the transactions contemplated by the Agreement and Plan of Merger, dated as of August 19, 2021 . . .” (Inovalon Holdings, Inc. Form 8-K, Nov. 24, 2021, SEC Filing.) This blog is now posted, you can find the link below. Also, I updated Airtable accordingly while also updating the text in the bottom section with what was posted.
Please contact us with any questions.