Convey to be taken private by TPG

Convey Health Solutions , a healthcare technology and services company, has entered into a merger agreement pursuant to which TPG Capital, the private equity platform of global alternative asset management firm TPG and Convey’s principal shareholder, will acquire all of the outstanding shares of 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 purchase price represents a premium of approximately 99% over Convey’s 30-day volume weighted average price per share as of June 17, 2022, and a premium of approximately 143% to the closing price of Convey common stock on June 17, 2022, the last trading day prior to public disclosure of the transaction.

The company believes this transaction will provide “substantial value, liquidity and certainty” for their shareholders.