Funds managed by TPG Capital, L.P. entered into an agreement to acquire the claims editing business of Change Healthcare Inc. for $2.2 billion.

Funds managed by TPG Capital, L.P. entered into an agreement to acquire the claims editing business of Change Healthcare Inc. (NasdaqGS:CHNG) for $2.2 billion on April 22, 2022. The consideration shall be paid in cash subject to customary adjustments. The transaction is contingent on a number of conditions, including the consummation of the previously announced merger transaction pursuant to which UnitedHealth Group will acquire Change Healthcare Inc, Barclays is acting as financial advisor to Change Healthcare.

Ari B. Blaut, Matthew M. Friestedt, Keith A. Pagnani, Davis J. Wang of Sullivan & Cromwell LLP acted as legal advisor to United Health Group. Simpson Thacher & Bartlett LLP acted as legal advisor to Change Healthcare Inc.