Inovalon to Be Acquired by Equity Consortium for $7.3 Billion

September 29, 2021

Willkie represented Insight Partners as lead co-investor for the consortium in the transaction.

Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, entered into a definitive agreement to be acquired by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and Chief Executive Officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon in an all-cash transaction with an enterprise value of approximately $7.3 billion.

Under the terms of the agreement, Inovalon stockholders will receive $41.00 per share in cash for each share of Class A Common Stock or Class B Common Stock. Upon completion of the transaction, Inovalon will become a private company with greater flexibility to focus on strategies that drive innovation and global market development. The company will maintain its headquarters in Bowie, Maryland.

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare, bringing to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 584,000 clinical facilities, 338 million Americans, and 63 billion medical events.

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments.

Nordic Capital is a leading private equity investor with focus sectors that include Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services, targeting Europe and globally for Healthcare and Technology & Payments investments. 22C Capital is a private investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption.

The Willkie team was led by partners Morgan Elwyn and Danielle Scalzo and included partner Vadim Mahmoudov and associates Ann-Christine Stepien and Caitlin Link.