TPG Capital $1.1 billion take-private acquisition of Convey Health Solutions
Davis Polk is advising TPG Capital on its acquisition of all of the outstanding common shares of Convey Health Solutions Holdings, Inc., not currently owned by TPG or certain management or director shareholders, representing an enterprise value of approximately $1.1 billion. The transaction is expected to close in the second half of 2022. Completion of the transaction is subject to customary closing conditions. Upon completion of the transaction, Convey will become a private company and will no longer be publicly listed or traded on NYSE.
TPG is a global alternative asset management firm founded in San Francisco in 1992 with $120 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate and Market Solutions. Convey is a specialized healthcare technology and services company that is committed to providing clients with healthcare-specific, compliant member support solutions utilizing technology, engagement and analytics.
The Davis Polk corporate team includes partners Oliver Smith and Darren M. Schweiger and associates Daisy Wu and Ryan Olson. The finance team includes partner Sartaj Gill and counsel Michael Fan. Partner Pritesh P. Shah is providing intellectual property and tech transactions advice. Partner Kara L. Mungovan, and counsel Aliza Slansky are providing tax advice. Partner Adam Kaminsky is providing executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.