Churchill Capital Corp III to Combine with MultiPlan
July 12, 2020
Churchill Capital Corp III agreed to merge with MultiPlan, taking the healthcare cost-management company public in a transaction that implies an initial enterprise value of approximately $11 billion. The deal includes up to $3.7 billion of new equity- and equity-linked capital (including a $2.6 billion PIPE and $1.1 billion from Churchill) to reduce debt and fund MultiPlan's organic and M&A-driven growth; Hellman & Friedman will remain MultiPlan's largest shareholder.
- Buyers
- Churchill Capital Corp III, PIPE investors
- Targets
- MultiPlan, Inc.
- Sellers
- Existing MultiPlan shareholders
- Industry
- Healthcare Services
- Location
- New York, United States
- Transaction Type
- Buyout
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