Claims clearinghouse and revenue cycle management vendor Navicure has signed a definitive agreement to receive a strategic investment from Bain Capital Private Equity, a global private investment firm.
Here are seven things to know about the transaction.
1. The transaction was private, and financial terms were not revealed.
2. Navicure, based in Duluth, Ga., will continue to be led by current CEO and founder, James M. Denny Jr., and his executive team. They will retain a meaningful interest in the business.
3. Selling shareholders include JMI Equity and other minority investors.
4. Mr. Denny said of the partnership. "We believe the resources and experience of Bain Capital Private Equity give us an important advantage as we continue to grow our business and deliver an even wider array of differentiated solutions to our clients."
5. The transaction is expected to close next month.
6. For Navicure, Aeris Partners served as the exclusive M&A advisor, and Jenner & Block acted as legal counsel. Ropes & Gray is serving as legal counsel, and PwC is serving as accounting advisor to Bain Capital Private Equity.
7. Committed financing for the transaction is being provided by Antares Capital serving as administrative agent and lead arranger, and Bain Capital Credit, Capital One Healthcare and NXT Capital serving as joint lead arrangers.
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