JZ Capital boosted by Bolder

JZ Capital boosted by Bolder – JZ Capital Partners Limited has announced an agreement to sell Bolder Healthcare Solutions (“BHS”) to a subsidiary of Cognizant, one of the world’s leading professional services companies.

Headquartered in Louisville, Kentucky, BHS offers a full suite of healthcare revenue cycle management services to the hospital and physician marketplace in the United States. BHS was formed through a co-investment partnership between JZCP and the Edgewater Funds.

JZCP will realise approximately $108.0 million in gross proceeds from this sale, representing an increase in net asset value (“NAV”) of approximately $35.1 million, or 4.3% of NAV, as of January 31, 2018.

David Zalaznick, JZCP’s Founder and Investment Adviser, commented: “This will be a significant transaction that demonstrates JZCP’s ability to consistently realise key assets at, or above, NAV. Our CEO, Mike Shea, and his management team at BHS did a superb job and we appreciate all their efforts that made this such a successful transaction.”

Completion of the transaction is subject to customary closing conditions and regulatory approvals, including The Hart-Scott-Rodino Antitrust Improvements Act of 1976.

[QD comment: JZ Capital’s shares have risen by 4.3% on the news and so it remains on a 33.8% discount, one of the widest in the investment companies universe for a fund of its size]

JZCP : JZ Capital boosted by Bolder

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