Starr, Partners Group lead purchase of MultiPlan

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News,Business

NEW YORK (AP) — A group led by Starr Investment Holdings says it is buying MultiPlan Inc., which helps manage claims for large health insurers.

The purchase price was $4.4 billion, according to a person close to the deal, who spoke on condition of anonymity because the companies did not publicly disclose terms.

Starr and Switzerland-based Partners Group announced Monday that their group had agreed to buy MultiPlan from private equity firms Silver Lake and BC Partners.

Starr is part of C.V. Starr & Co., which is led by former American International Group Inc. CEO Maurice "Hank" Greenberg.

MultiPlan says on its website that it has nearly 900,000 health care providers under contract and processes 40 million claims a year for payers in health care and other markets.

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