WSJ: Healthcare services firm MultiPlan close to being sold for $4.4B


Private-equity firms BC Partners and Silver Lake are close to agreeing to sell MultiPlan, a provider of services that help big health insurers manage the claims process, for $4.4B, the WSJ reports.

The buyer is a consortium led by Starr Investment Holdings, an affiliate of C.V. Starr & Co., which is part of an insurance and investments group led by former AIG chief Maurice "Hank" Greenberg.

Starr's co-investor is Swiss investment firm Partners Group.

The deal would represent a nice return for BC and Silver Lake after they bought MultiPlan for $3.1B in 2010.

Comments (2)
  • OldSpartan71
    , contributor
    Comments (25) | Send Message
     
    I own a medical clinic. Multiplan runs a nice scam. They will advertise many different health insurance logos on their cards, as if their customers are covered by those plans. Then when you file a claim, it's "oh, sorry we're not really in network...".

     

    I'm sure they generate plenty of revenue. It's just by not paying claims, or by "saving" those other insurance companies from not having to pay their claims.
    17 Feb 2014, 06:18 PM Reply Like
  • mindguy
    , contributor
    Comments (34) | Send Message
     
    I own a clinical psychology practice with 20 clinicians. One of the first things we tell new psychologists is to throw any correspondence from MultiPlan in the trash asap. They try to scam mental health providers into getting on their plan in order to reduce paperwork and get paid quicker. They fail to mention that they will reduce your charge by 20% almost no matter what insurance company you are filing claims for. Worst thing is if you sign up for them on a particular claim you will find that they will reduce your charges for all companies that they are affiliated with which includes most of them.
    I could go on but I am essentially corroborating oldspartan's report above. They are almost a company of grifters.
    17 Feb 2014, 07:38 PM Reply Like
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