Welcome!

News Feed Item

Starr Investment Holdings And Partners Group To Lead Acquisition Of MultiPlan From BC Partners And Silver Lake

Market Leader Positioned for Sustained Growth and Continued Leadership in Tech-Enabled Healthcare Cost Management Solutions

NEW YORK, Feb. 17, 2014 /PRNewswire/ -- Today, a group led by Starr Investment Holdings, an investment firm focused on long-term investments, and Partners Group, a global private markets investment management firm, announced the acquisition of MultiPlan, Inc. from Silver Lake, the global leader in technology investing, and BC Partners, a leading international private equity firm. Terms of the transaction were not disclosed.

Founded in 1980, MultiPlan delivers comprehensive transaction-based solutions to healthcare payers. With a network of over 900,000 healthcare providers and extensive proprietary analytics, MultiPlan generates over $11 billion in medical cost savings on about 40 million claims annually. Leveraging technology, data and analytics, MultiPlan optimizes healthcare transactions by reducing medical costs through its network- and analytics-based solutions and by enabling efficient transaction processing through its unique technology platform.

"Today's announcement marks the next step in an exciting journey for MultiPlan," said Mark Tabak, MultiPlan's Chief Executive Officer. "Starr's historical relationship with MultiPlan and its executives was fundamental in bringing our firms together. With the investment led by Starr and Partners Group, we have the long-term capital, strategic support and collective set of relationships to further grow our company and evolve our solutions in the rapidly-changing healthcare market and beyond."

Mr. Tabak added: "We have enjoyed our partnership with BC Partners and Silver Lake and thank them for their contributions to our success, as well as for their leadership in several strategic and technology initiatives that strengthened the company's growth outlook."

"MultiPlan operates at the center of the healthcare ecosystem and is uniquely positioned to continue to expand its service offering and drive value and cost savings for its customers," said Geoffrey Clark, Senior Managing Director of Starr Investment Holdings.

"In an environment of escalating medical costs, MultiPlan's value proposition is increasingly critical and its innovative solutions ever more impactful to corporations and, more importantly, the lives of their employees," said Joel Schwartz, a Managing Director of Partners Group in New York.

"It has been our privilege to partner with MultiPlan," said Raymond Svider, Managing Partner of BC Partners, and Egon Durban, Managing Partner of Silver Lake. "Since our investment in 2010, MultiPlan has successfully integrated Viant and strengthened its foundation for long-term growth through enhanced technology capabilities, expanded customer relationships and deeper penetration into adjacent markets and new product lines."

The transaction has fully committed financing from Barclays PLC and J.P. Morgan Chase & Co. and is subject to regulatory approvals and customary closing conditions.

Barclays PLC, J.P. Morgan Chase & Co., Kirkland & Ellis LLP, Marwood Group LLC and KPMG LLP are advising Starr Investment Holdings, with King & Spalding LLP advising Partners Group.

Bank of America Merrill Lynch, Credit Suisse, Goldman, Sachs & Co., RBC Royal Bank, Dean Bradley Osborne, LionTree Advisors LLC and The Raine Group LLC are advising MultiPlan, BC Partners and Silver Lake.

About MultiPlan, Inc.
MultiPlan, Inc. is the industry's most comprehensive provider of healthcare cost management solutions. The company provides a single gateway to a host of network- and analysis-based strategies for managing the financial risks associated with healthcare claims. Clients include large and mid-sized insurers and health plans, third party administrators, self-funded employers, HMOs and other entities that pay medical bills in the commercial healthcare, government, workers' compensation and auto medical markets.  For more information visit www.multiplan.com.

About Starr Investment Holdings, LLC
Starr Investment Holdings, LLC ("SIH"), a multi-billion dollar investment adviser, partners with and advises a wide range of institutions and family offices with a focus on long-term, sustained equity capital investments. SIH leverages the rich heritage, operating expertise and strong capital position of its largest client, the Starr Companies. As a duration-agnostic investor, SIH aligns resources, expertise and capital to maximize the value of each investment. Given the nature of its capital base, SIH is particularly well positioned to partner with owners and management teams enabling them to realize their long term vision. By minimizing the friction associated with shorter duration investing, this approach allows management to make optimal operating decisions with a view to driving long-term value creation. For more information visit www.starrholdings.com.

About Partners Group AG
Partners Group is a global private markets investment manager with over EUR 30 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, Sao Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 700 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 6 billion and a major ownership by its partners and employees. For more information visit www.partnersgroup.com.

About BC Partners
BC Partners is a leading private equity firm with advised funds of €12.6 billion ($17.2 billion). Founded in 1986 as one of the few truly pan-European buy-out investors, BC Partners has grown and evolved into a leader in buy-outs, principally investing in larger businesses in Europe and North America through its established network of offices in London, Paris, Hamburg, Milan and New York. BC Partners executives operate as an integrated team, acquiring and developing businesses to create value in partnership with management. Since inception, BC Partners has completed 84 acquisitions with a total enterprise value of €88 billion and is currently investing its ninth fund, which was raised in 2011 with total commitments of €6.7 billion ($9.2 billion). For more information visit www.bcpartners.com.

About Silver Lake
Silver Lake is a global leader in private investments in technology and technology-enabled industries. Silver Lake invests with the strategic and operational insights of an experienced industry participant. The firm has approximately 110 investment and value creation professionals located in New York, Menlo Park, San Mateo, London, Hong Kong, Shanghai and Tokyo and manages approximately $20 billion in combined assets under management. The Silver Lake Partners portfolio includes or has included technology and technology-enabled industry leaders such as Alibaba, Allyes, Ameritrade, Avago, Business Objects, Dell, Flextronics, Gartner, Gerson Lehrman Group, Global Blue, Go Daddy, Instinet, Intelsat, Interactive Data Corporation, MCI, Mercury Payment Systems, MultiPlan, the NASDAQ OMX Group, NetScout, NXP, Sabre, Seagate Technology, Skype, Spreadtrum, SunGard Data Systems, UGS, Vantage Data Centers, Virtu and William Morris Endeavor. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.

SOURCE Starr Investment Holdings, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, discussed how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees learned how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He also looked at what good leadership must entail in order to accomplish this, and how IT managers can be the ...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...
"Outscale was founded in 2010, is based in France, is a strategic partner to Dassault Systémes and has done quite a bit of work with divisions of Dassault," explained Jackie Funk, Digital Marketing exec at Outscale, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.