Cotiviti Holdings, which provides payment accuracy analytics and recovery audits for health insurers, announced terms for its IPO on Monday.
The Wilton, CT-based company plans to raise $225 million by offering 12.5 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Cotiviti Holdings would command a fully diluted market value of $1.7 billion.
Cotiviti Holdings was founded in 1979 and booked $564 million in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol COTV. Goldman Sachs, J.P. Morgan, Barclays, Citi, Credit Suisse, Morgan Stanley, RBC Capital Markets and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of May 23, 2016.
