'TPG Working With JPMorgan Chase Bankers To Explore Potential $5 Billion Sale Of Healthcare Payments Software Firm Lyric, Sources Said' - Reuters Exclusive
By Benzinga Newsdesk
TPG is working with JPMorgan on possible Lyric sale, sources saidbr>Lyric generates about $250 million of annual EBITDA, sources saidbr>Insurers including UnitedHealth, CVS and Humana hire Lyric to prevent inaccurate medical claims paymentsbr>NEW YORK, Sept 9 (Reuters) - Private equity firm TPG TPG.O is exploring the sale of Lyric, in a process that could value the software company which supports payments in the healthcare industry at about $5 billion, people close to the discussions said.
The move comes as software dealmaking has shown signs of recovery after concerns about artificial intelligence disruption triggered a selloff across the software sector earlier this year.
As activity picks up, there remains wariness about what businesses are worth, and to what extent even highly specialized software providers could be affected by the technology's rapid evolution.
Insurers such as UnitedHealth UNH.N, CVS CVS.N and Humana HUM.N hire Lyric to identify and prevent inaccurate medical claims payments.
Keep reading.
Trade what
you just read.
Apply the analysis on a live or demo account, same execution, no risk on demo.
Your seat at the market is ready.
Open your account in minutes, transparent pricing, fast withdrawals and support that answers.