Middle-market healthcare investor Frazier Healthcare Partners is raising a continuation vehicle to maintain control of portfolio company Accuity Delivery Systems after an agreement to sell the company to UnitedHealthcare fell through, according to people familiar with the matter. Barings and Partners Group have emerged as lead buyers on the roughly $355 million CV. Canadian pension manager CPP Investments is also investing directly into the company, the people said. Frazier initially planned to sell Accuity Delivery Systems to UnitedHealthcare for roughly $1.1 billion, but the insurer pulled out of the deal as it neared the final hour, the people told PitchBook. Frazier brought the company back to market, where the highest bid fell short of $1 billion.
Read the full article: Frazier Healthcare Shops CV After UnitedHealthcare Deal Falls Through //
Source: https://pitchbook.com/news/articles/frazier-healthcare-shops-cv-after-unitedhealthcare-deal-falls-through