MCLEAN, Va.–(BUSINESS WIRE)–Claritev Corporation (“Claritev” or the “Company”) (NYSE: CTEV), a technology, data and insights company focused on making healthcare more affordable, transparent and fair for all, today announced the commencement of an underwritten public offering (the “Offering”) of 1,500,000 shares of its Class A common stock, par value $0.0001 per share (the “Class A common stock”), by certain affiliates of Hellman & Friedman (collectively, the “Selling Stockholders”). The Selling Stockholders granted the underwriters a 30-day option to purchase up to an additional 225,000 shares of Class A common stock. The underwriters propose to offer the shares of Class A common stock to the public at a fixed price, which may be changed at any time without notice. Claritev will not sell any shares of its Class A common stock in the Offering and will not receive any proceeds from the sale of the shares of Class A common stock being offered by the Selling Stockholders. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.
Barclays, Guggenheim Securities and Wells Fargo Securities are acting as joint-lead bookrunning managers for the Offering. Citigroup and Piper Sandler are acting as additional bookrunners for the Offering. The Offering may be made only by means of a prospectus supplement and accompanying prospectus. Claritev has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the Offering. A prospectus supplement and accompanying prospectus relating to the Offering will be filed with the SEC and will be available on the SEC’s website. Before you invest, you should read the prospectus supplement and accompanying prospectus and other documents Claritev has filed with the SEC for more complete information about Claritev and the Offering. You may get these documents for free, once available, by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Barclays, Guggenheim Securities or Wells Fargo Securities will arrange to send you the prospectus supplement and accompanying prospectus relating to the Offering if you contact Barclays Capital Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at [email protected]; Guggenheim Securities, LLC at 330 Madison Avenue, 8th Floor, New York, NY 10017, Attention: Equity Syndicate Department, by telephone at (212) 518-9544, or by email at [email protected]; or Wells Fargo Securities, LLC at 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, Attention: Wells Fargo Securities, by telephone at (800) 645-3751 (option #5) or by email at [email protected].
This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Claritev
Claritev is a healthcare technology, data and insights company focused on improving affordability, transparency and quality. Led by a team of deeply experienced associates, data scientists and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources and over 40 years of claims repricing experience. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design. By focusing on purpose-built solutions that support all key players—including payors, employers, patients, providers and third parties—Claritev aims to make healthcare more accessible and affordable for all.
Claritev serves more than 700 healthcare payors, over 100,000 employers, 60 million consumers, and 1.4 million contracted providers.
Forward-Looking Statements
This press release includes statements that express our and our subsidiaries’ opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, including statements related to the terms and timing of the Offering. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that these forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks, uncertainties and other assumptions include: market conditions; the satisfaction of customary closing conditions related to the Offering; the ability to complete the Offering on the anticipated terms or at all; other factors disclosed in our SEC filings; and other factors beyond our control.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on our business. There can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the prospectus supplement and accompanying prospectus relating to the Offering, our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and other documents filed or to be filed with the SEC by us. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.
We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Contacts
Investor Relations Contact
Todd Friedman
VP, Investor Relations
Claritev
866-909-7427
[email protected]
