May 2023 Monthly Newsletter
Evolve Capital Partners
Innovative Investment Banking at the Intersection of Finance & Technology
Evolve Capital is pleased to release our May 2023 monthly newsletters offering an update on market activities and trends across sectors in finance & technology.
The May issue focuses on the insurance, healthcare tech, and financial management solutions sectors where Evolve continues to be active, especially in insurance, our core vertical. Select relevant transactions include Stone Point Capital's acquisition of a 20% minority stake in Truist Insurance Holdings, a retail and wholesale insurance distribution platform. The transaction was announced in February and represents an aggregate value of $14.8 billion for Truist Insurance, implying a healthy valuation of 17.2x 2022 adjusted EBITDA and 27.4x 2022 adjusted earnings. In February, Elation Health announced its acquisition of Lightning MD, a cloud-based medical billing and payor connectivity SaaS platform. In April, TPG announced its $500 million acquisition of Thomson Reuters Elite, a developer of integrated practice and financial management software for front and back-office management functions
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Read the detailed newsletters here: Insurance , Healthcare Tech , and Financial Management Solutions
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