ANTM - Anthem reaffirmed at Overweight by Stephens; to acquire CareCentrix
Subsequent to PE Hub reporting that Anthem (ANTM) is believed to be in late-stage talks to acquire Connecticut-based CareCentrix, Stephens analyst Scott Fidel re-affirmed its Overweight rating (PT, $330).CareCentrix, backed by private equity firm Summit Partners, provides post-acute and home-based services, discharge management, and durable medical equipment.He further adds that the CareCentrix deal, if completed, would represent the latest foray into home-based and post-acute care from the MCOs.Fidel also notes as stated by PE Hub, CareCentrix was originally looking to secure a $1B deal valuation but that the current negotiating price has slipped to the $600-$700M range.
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Anthem reaffirmed at Overweight by Stephens; to acquire CareCentrix