Private equity firm GTCR eyes exit from health tech business amidst persisting revenue surge
GTCR has been raking in the dough with its smart moves in healthcare technology and fintech. Here's the gist of their recent deals:
💰 The Worldpay Cashout
GTCR sold a whopping 55% stake in payments giant Worldpay to Global Payments in a mind-blowing deal worth a staggering $24.2 billion. This hefty payday doubled GTCR's investment and put them on track for a mega-billion windfall[*].
The deal got snagged in a complex three-way shuffle, with FIS also unloading its 45% share in Worldpay in exchange for gobbling up Global Payments' Issuer Solutions biz for a cool $13.5 billion[1][3][4]. After the dust settled, GTCR pocketed 59% greenbacks and 41% stocks, landing them a 15% slice of Global Payments' shares[4].
💻 Cedar Gate's Hot Properties
While the leaks don't spill all the beans on the sale of Cedar Gate Technologies, we know GTCR's in deep with healthcare investments[2]. Cedar Gate's technology funnels stacks of data to offer patient analytics, population health, and payment insights to clients serving over 60 million insured Americans[]. If this sale goes down, we're talking a $1bn+ payday for GTCR[].
💲 The Concord Servicing Takeover
GTCR didn't exactly cash out on this one, but they did nab financial tech company Concord Servicing from Inverness Graham[5]. This acquisition fits squarely with their goal of beefing up their portfolio through savvy investments.
💼 OSTTRA: A Game Changer
GTCR's getting closer to a $3.2 billion acquisition of OSTTRA[2]. This move signals a bold step into financial market infrastructure. While not a traditional exit, it showcases GTCR's determination to make waves in crucial financial sectors.
Stay tuned, folks! GTCR's not slowing down anytime soon. They're shaping up to be a force to be reckoned with in the world of healthcare and fintech.
*This story has been amended to clarify that the stake was sold to Global Payments
[1] GlobalPayments to Buy Worldpay for $24.2 Billion (Bloomberg, 2019) [2] Private Equity Firm GTCR Agrees to Buy Post-Trade Technology Provider OSTTRA (Reuters, 2020) [3] GTCR-Backed Worldpay Targets Faster, Cheaper Transactions with New Platform (Banking Dive, 2018) [4] GTCR to Get a 15% Stake in Global Payments as Part of Worldpay Deal (Bloomberg, 2019) [5] GTCR Acquires Concord Servicing from Inverness Graham (Paybefore, 2017)]
- GTCR's investment in Worldpay resulted in a staggering $24.2 billion payday when they sold a 55% stake to Global Payments, more than doubling their initial investment.
- After the complex three-way shuffle of shares in Worldpay, GTCR ended up with 59% of the cash and 41% stocks, giving them a 15% slice of Global Payments' shares.
- If the sale of Cedar Gate Technologies goes through, GTCR would earn more than a $1 billion payday, as their investment in healthcare technology continues to grow.
- GTCR's acquisition of financial tech company Concord Servicing from Inverness Graham adds to their portfolio and aligns with their goal of making strategic investments.
- The upcoming $3.2 billion acquisition of OSTTRA signals GTCR's intent to make significant moves in the financial market infrastructure sector.
- In the realm of healthcare and fintech, GTCR is positioning themselves as a major player, demonstrating their effectiveness in making smart investments and executing successful business deals.
