Cotiviti

Investment Thesis

• Compelling strategic rationale for the combination of two businesses​
• Market leader with enduring competitive advantages​
• Attractive financial profile and free cash flow generation

Investment Overview

Cotiviti / Verscend is the combination of two healthcare IT companies to create a leading provider of analytics-driven payment accuracy solutions to healthcare payors. The company’s software is used to optimise revenue, reduce costs and ensure regulatory compliance for various stakeholders in the healthcare industry. Cotiviti’s solutions serve over 180 healthcare payors including 96% of the top 25 plans. ​

In June 2016, Veritas acquired the healthcare division of Verisk Analytics for $820 million and renamed it Verscend. In August 2018, Veritas merged Verscend with Cotiviti, the premier asset in claims processing. The combination of the two companies created a number of advantages, including increasing affordability, reducing waste and improving outcomes by providing integrated end-to-end solutions aimed at addressing the estimated $900 billion in healthcare waste across the claims payment landscape.