A consortium including Starr Investment Holdings LLC and Switzerland's Partners Group AG has said that it is planning to acquire medical claims processor MultiPlan.

The consortium will acquire the New York-based firm from private equity firms Silver Lake Partners and B C Partners. The companies have not announced the details of the deal but it is believed that the deal to acquire MultiPlan might be valued at about $4.4 billion. MultiPlan offers comprehensive transaction-based solutions to healthcare payers in the country.

MultiPlan CEO Mark Tabak said in a statement that, "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."

MultiPlan uses technology, data and analytics in order to improve healthcare transactions and offer reduced costs for healthcare.  MultiPlan works with more than 900,000 healthcare providers and processes 40 million claims every year and generates more than $11 billion in medical cost savings.

Sourse : Top New