It’s been no secret that Searchlight Capital have been keen to dispose of PatientPoint LLC for 18 months or so. Searchlight Capital Partners and Silver Point Capital pumped in USD 140 Million to the well thought of point-of-care network back in June 2017,
Rumour this week, substantiated by folks at Bloomberg, says that PatientPoint LLC is in talks to merge with fraud tainted media owner Outcome Health.
Pre-fraud Outcome Health was ‘valued’ at USD 5 Billion in a 2017 funding round, whereas the combined companies in this merger would now find a value around about USD 600 million.
Chicago-based Outcome Health, previously known as ContextMedia Health LLC, was once a high-flying startup backed by Alphabet Inc. and Goldman Sachs Group Inc. Littlejohn acquired a majority stake in Outcome Health in May 2019, according to a statement at the time that didn’t disclose terms of the deal.
The following October, Outcome Health agreed to pay USD 70 million to resolve a federal investigation of a fraud scheme that targeted its clients, lenders and investors, according to a U.S. Justice Department statement.
Outcome Health founders Rishi Shah, Shradha Agarwal, Outcome CFO Brad Purdy and executive VP Ashik Desai who allegedly defrauded investors out of hundreds of million of dollars are due in court February, 22, 2022.
If any deal was to happen it would create the largest U.S. advertising network in doctors’ offices.