Cotiviti Holdings, Inc. Announces Plans to Refinance Existing Term Loan Facilities
ATLANTA—(Business Wire)—Cotiviti Holdings, Inc. (NYSE:COTV) (“Cotiviti”), a leading payment accuracy provider to the healthcare and retail industries, announced today that it is seeking to refinance all of its existing first and second lien term loan facilities with the proceeds of a new five-year $350 million senior secured bank credit facility, consisting of a $250 million term A loan facility and a $100 million revolving credit facility, a new seven-year $550 million term B loan facility and cash on hand. There can be no assurance that Cotiviti will be able to obtain the new credit facilities.
Cotiviti is a leading payment accuracy provider that helps healthcare payers and retailers achieve their business objectives by unlocking value from the incongruities the company discovers in the complex interactions customers have with stakeholders. Cotiviti helps clients capture over $3 billion annually through improved payment accuracy. Cotiviti provides services to eight of the top ten U.S. healthcare payers and eight of the top ten U.S. retailers.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “seek,” “plan,” “intend,” “believe,” “will,” “may,” “could,” “continue,” “likely,” “should,” and other words. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in Cotiviti’s Securities and Exchange Commission filings. Any forward-looking statement made by Cotiviti in this press release speaks only as of the date on which it is made. Cotiviti undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investors and Media:Cotiviti Holdings, Inc.
Jennifer W. DiBerardino, 203-642-0718
Vice President, Investor Relations