BUZZ-Claritev slides as top holder reduces stake in healthcare tech firm

Reuters
Nov 13
BUZZ-Claritev slides as top holder reduces stake in healthcare tech firm

** Shares of healthcare payment solutions co Claritev CTEV.N, formerly MultiPlan, down 10.8% premarket to $52.30 after secondary offering priced

** McLean, Virginia-based CTEV late Weds announced private equity firm Hellman & Friedman (H&F) offloaded 1.5 mln shares

** Offering price of $51.50 is 12.1% discount to stock's last close

** Sale takes H&F's holdings to ~3.9 mln shares, or 23.5% of CTEV's ~16.5 mln shares outstanding, per the prospectus

** Barclays, Guggenheim and Wells Fargo leading the offering, joined by Citigroup and Piper Sandler as bookrunners

** CTEV shares on Weds closed up 2.4%, up about fourfold YTD

** All 3 analysts covering CTEV are bullish with PTs of $80, $90 and $95, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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