A private equity firm has agreed to acquire the largest independent preferred provider organization manager in the United States.
The Carlyle Group, New York, hopes to complete the acquisition of MultiPlan Inc., New York, by June 30.
The price of the deal and other contract terms were not immediately available, but Carlyle executives say they hope to continue to work with Mark Tabak, MultiPlan’s chief executive.
MultiPlan was formed 35 years ago and now runs a network that includes more than 4,200 hospitals, 90,000 ancillary care facilities, and 450,000 doctors and other health care providers.
The company has 2,000 clients, including health insurers, managed care companies, benefit plan administrators and self-funded group health plans.
“Steadily rising health care costs have sparked a new wave of innovation and consolidation in the managed care industry,” Bob Dahl, a Carlyle managing director, says in a statement. “We see MultiPlan’s independent, national network and related technology as the critical building blocks in new solutions that will emerge to support this changing market.”