Nordic Capital focuses mainly on three core sectors: healthcare, technology & payments, and financial services – and has done a number of deals in recent decades where these areas overlap.
A number of them have been in the healthtech space lately, including Philadelphia-based life science company ERT and Boston-based Cytel, which provides statistical models for clinical trials globally.
This deal is the latest of Nordic Capital’s health-tech investments. Inovalon is an outcome-based company that is “the spider in the web” or can be said to be the complex backbone across the US healthcare ecosystem, as it caters to 24 out of the 25 largest health plans in the US, providing software that caters to risk assessment and quality assurance for the payers.
The investment was led by Nordic Capital, with equity participation from lead co-investor Insight partners and 22C Capital, a growth venture capital and advisory firm based in Beverly Hills, California.
Source: Private Equity Wire
