UpHealth Enters Into Definitive Agreement For Sale Of Cloudbreak Health Business To GTCR For $180M
Portfolio Pulse from Benzinga Newsdesk
UpHealth, Inc. has entered into a definitive agreement to sell its Cloudbreak Health business to private equity firm GTCR for $180 million. The transaction is expected to provide UpHealth with significant capital to focus on its core businesses and strategic initiatives.
November 16, 2023 | 9:06 pm
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UpHealth, Inc. is selling its Cloudbreak Health business to GTCR for $180 million, which could provide the company with additional capital to strengthen its core businesses.
The sale of Cloudbreak Health is a significant transaction for UpHealth, Inc., likely to provide a substantial influx of capital. This could be viewed positively by investors as it may improve the company's financial position and allow for more focused investment in its core businesses. The positive impact on the stock price is based on the assumption that the market will react favorably to the company's strategic divestiture and improved capital allocation.
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