MultiPlan Corporation acquired Benefits Science LLC from a group of shareholders for approximately $160 million.
May 08, 2023
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MultiPlan Corporation (NYSE:MPLN) acquired Benefits Science LLC from a group of shareholders for approximately $160 million on May 8, 2023. consideration of $160 million paid at the closing of the Acquisition in the form of (i) cash consideration in an aggregate amount of approximately $140.8 million, subject to customary adjustments for working capital, cash, indebtedness and transaction expenses set forth in the Purchase Agreement; and (ii) stock consideration of 21,588,658 shares of Company Class A common stock, par value $0.0001 per share. Upon the closing, Benefits Science Technologies became a wholly owned, indirect subsidiary of MultiPlan. Dimitris Bertsimas, who serves as the chief data scientist of Benefits Science LLC will continue with Benefits Science LLC post-closing.
BofA Securities, Inc. served as financial advisor and William Brentani and Kelli Schultz of Simpson Thacher & Bartlett LLP and Richard J. Campbell, P.C., Julia Danforth, Jared M. Rusman, Sherry Xie, Aaron H. Lorber, Matthew C. Darch, Kate Vera, Deidre Kalenderian and Kyle P. Elder of Kirkland & Ellis LLP acted as legal advisors to MultiPlan, Inc. Truist Securities acted as the exclusive financial advisor and Spencer Ricks, Stefanie Vincent, Rene de Vera, Sarah Gagan, Heather Deixler, Austin Ozawa and Jennifer Yoon of Latham & Watkins LLP acted as legal advisor to Benefits Science LLC.
MultiPlan Corporation (NYSE:MPLN) completed the acquisition of Benefits Science LLC from a group of shareholders on May 8, 2023. Consideration $160.1 million, net of acquired cash $0.673 million, consisting of $140.9 million in cash and $19.2 million in Company Class A common stock. The Company issued stock consideration of 21,588,652 shares of Company Class A common stock for the acquisition of BST
MultiPlan Corporation is a provider of data analytics and technology-enabled end-to-end cost management, as well as payment and revenue integrity solutions to the United States healthcare industry. The Company interprets customerâs needs and customizes solutions that combine its payment and revenue integrity, network-based, analytics-based, and data and decision science services. Through its data and technology platform, the Company provides out-of-network cost management, payment and revenue integrity, data and decision science, business-to-business (B2B) healthcare payments and other services to the payors of healthcare, which are primarily health insurers and their administrative-services-only (ASO) platforms, self-insured employers, federal and state government-sponsored health plans and other health plan sponsors, and, indirectly, the plan members who are the consumers of healthcare services. The Company is a partner to over 700 healthcare payors, brokers, and others.
MULTIPLAN CORPORATION 
