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Edifecs CEO Venkat Kavarthapu. (LinkedIn Photo)
Bellevue, Wash.-based health software company Edifecs announced has agreed to be acquired by Cotiviti, a Utah-based healthcare giant backed by private equity firms.
Terms of the deal were not disclosed.
Edifecs launched in 1996 as a data processing company and turned its focus to healthcare in 2001. The company helps payer and health systems with health-related data interoperability and data management products. It raised capital from TA Associates and Francisco Partners in 2020.
Cotiviti helps healthcare payers with payment accuracy, quality improvement, risk adjustment, and consumer engagement programs. It also sells data management and recovery audit services to the retail industry.
KKR took a $10.5 billion stake in Cotiviti in a deal last year with KKR Capital, which remains an owner in the company. Cotiviti formed through a merger between Connolly and iHealth Technologies in 2014.
Edifecs has more than 1,000 employees, according to LinkedIn, with additional offices in Atlanta and India.
Sunny Singh founded and led Edifecs for 25 years before handing the CEO reins to Venkat Kavarthapu in 2021.
