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Equity Consortium completes Inovalon acquisition

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Bowie-based Inovalon has completed its acquisition by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon Founder and CEO Keith Dunleavy, M.D., and certain Class B stockholders of Inovalon.
The acquisition was approved by Inovalon’s stockholders on Nov. 16. In accordance with the terms of the agreement, Inovalon stockholders will receive $41 in cash for each share of Class A Common Stock and Class B Common Stock. As a result of the transaction, Inovalon is now a privately-held company and shares of Inovalon Class A Common Stock are no longer listed on the NASDAQ Global Select Market.
“The importance of leveraging data and advanced analytics to drive improved health care outcomes and economics continues to grow,” said Deven Parekh, managing director at Insight Partners. “As new partners to Inovalon, we look forward to supporting the leadership team and exceptional associates across the organization as they continue to empower customer success through data-driven health care.”
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