Houlihan Lokey Advises Navient

Houlihan Lokey is pleased to announce that Navient (NASDAQ: NAVI) has reached an agreement to sell Xtend Healthcare (Xtend), its healthcare revenue cycle management (RCM) business, to CorroHealth, a portfolio company of Carlyle (NASDAQ:CG). The transaction is expected to close by the end of September 2024.

Xtend provides specialized, tech-enabled RCM solutions to enhance the financial success of leading health systems, including hospitals and affiliated physician groups. Leveraging its proprietary technology platform, Xtend offers a full suite of RCM services ranging from discrete point solutions to end-to-end outsourcing engagements.

CorroHealth is the leading provider of clinically led healthcare analytics and technology-driven solutions, dedicated to positively impacting the financial performance for physicians, hospitals, and health plans. With more than 11,000 employees worldwide, CorroHealth offers integrated solutions, proven expertise, intelligent technology, and scalability to address needs across the entire revenue cycle. CorroHealth’s global presence extends over 10 locations, including the United States, India, and the United Kingdom.

Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,220 people in 29 offices across four continents.

This transaction further strengthens and highlights Houlihan Lokey’s continued leadership position in healthcare RCM and healthcare technology in general. Houlihan Lokey’s Healthcare Group is among the largest and most active dedicated healthcare investment banking groups in the world, closing 20+ transactions in the past 18 months. In 2023, the group closed 34 transactions and was ranked by LSEG (formerly Refinitiv)* as the No. 1 M&A advisor globally for all healthcare transactions.

Houlihan Lokey served as the exclusive financial advisor to Navient.

*Excludes accounting firms and brokers.

RELATED: Healthcare, Financial Sponsors Coverage