Convey to Be Acquired by TPG Capital
06.22.22
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Simpson Thacher is representing the Special Committee of Convey Health Solutions Holdings, Inc. (NYSE: CNVY) in connection with its definitive merger agreement to be acquired by TPG Capital, the private equity platform of global alternative asset management firm TPG and Convey’s principal shareholder. Pursuant to the merger agreement, TPG has agreed to acquire all of the outstanding Convey common stock not currently owned by TPG or certain management and director shareholders for $10.50 per share in cash, representing an enterprise value of approximately $1.1 billion. The transaction is expected to close in the second half of 2022, subject to customary closing conditions.
Convey is a specialized healthcare technology and services company that is committed to providing clients with healthcare-specific, compliant member support solutions utilizing technology, engagement and analytics. Convey’s administrative solutions for government-sponsored health plans help to optimize member interactions, ensure compliance and support end-to-end Medicare processes.
The Simpson Thacher team for the transaction includes Marni Lerner, Sebastian Tiller, Nicholas Marricco, Cedric Karaoglan and Nathaniel Little (M&A); and Vanessa Burrows (Healthcare Regulatory). Summer Associate Shuhan Zhang provided valuable assistance.