MultiPlan Announces Pricing of 6.625% Senior Notes due 2022

MultiPlan, Inc. (“MultiPlan”) and investment funds advised by Starr Investment Holdings, LLC and Partners Group AG (the “Sponsors”) today announced that MPH Merger Sub LLC (“Merger Sub”), a wholly-owned subsidiary of MPH Intermediate Acquisition Corp. (“Parent”), which is controlled by affiliates of the Sponsors, has priced its previously announced private offering of $1,000.0 million aggregate principal amount of senior notes due 2022 (the “notes”).

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New York, NY (PRWEB) March 19, 2014

MultiPlan, Inc. (“MultiPlan”) and investment funds advised by Starr Investment Holdings, LLC and Partners Group AG (the “Sponsors”) today announced that MPH Merger Sub LLC (“Merger Sub”), a wholly-owned subsidiary of MPH Intermediate Acquisition Corp. (“Parent”), which is controlled by affiliates of the Sponsors, has priced its previously announced private offering of $1,000.0 million aggregate principal amount of senior notes due 2022 (the “notes”). The notes will have an interest rate of 6.625% per annum and will be issued at a price equal to 100% of their principal amount. The notes are being issued in connection with the proposed merger (the “merger”) of Merger Sub with and into MPH Acquisition Holdings LLC, and upon consummation of the merger, MPH Acquisition Holdings LLC will acquire all of the obligations of Merger Sub under the notes. Following the assumption, the notes will be guaranteed by each of the existing and future subsidiaries of MPH Acquisition Holdings LLC, including MultiPlan, Inc., that is a guarantor under its senior secured credit facilities. The closing of the offering is expected to occur on or about March 31, 2014, subject to completion of the merger and customary closing conditions.

MultiPlan and the Sponsors expect that the net proceeds of the offering, together with amounts borrowed under a new senior secured credit facility and the proceeds of an equity investment by the Sponsors, will be used to fund a portion of the purchase price for, and pay certain fees and expenses related to, the merger.

The notes and the related guarantees will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The notes and the related guarantees have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to purchase the notes.

About MultiPlan
MultiPlan is one of the industry’s leading providers of end-to-end healthcare cost management solutions with a network of healthcare providers that includes approximately 5,500 hospitals, 855,000 practitioners and 145,000 ancillary facilities. The company provides a single gateway to a host of primary, complementary and out-of-network strategies for managing the financial risks associated with healthcare claims. Clients include insurers/health plans, third-party administrators, self-funded employers, HMOs and other entities that pay medical bills in the commercial healthcare, government, workers compensation and auto markets. For more information, visit http://www.multiplan.com.

About Starr Investment Holdings
Starr Investment Holdings, LLC, a subsidiary of C.V. Starr & Co., Inc., is a multi-billion dollar investment adviser, which partners with and advises a wide range of institutions and family offices with a focus on long-term, sustained equity capital investments. Starr Investment leverages the rich heritage, operating expertise and strong capital position of its largest clients, C.V. Starr & Co., Inc. and Starr International Company, Inc. Starr Investment aligns resources, expertise and capital to facilitate value creation in each of its investments. Given the nature of its capital base, Starr Investment is particularly well-positioned to partner with owners and management teams enabling them to realize their long-term vision. Starr Investment targets industries in which the organization has operating and investing experience such as insurance, healthcare, business services, and financial services. For more information, visit http://www.starrholdings.com/.

About Partners Group
Partners Group is a global private markets investment manager with over $40 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 700 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 6 billion and a major ownership by its partners and employees. For more information, visit http://www.partnersgroup.com/en/.

Forward-Looking Statements
This news release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, any statements about the company’s plans, strategies, prospects, financing and tender offer. The words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts” or future or conditional verbs, such as “will,” “should,” “could” or “may” and variations of such words or similar expressions are intended to identify forward-looking statements. The company bases these forward-looking statements on its current views with respect to future events and financial performance. Actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, which include, but are not limited to: effects of new laws on our business; loss of our customers, particularly our largest customers; decreases in our existing market share or the size of our PPO networks; effects of competition; effects of pricing pressure; the inability of our customers to pay for our services; decreases in discounts from providers; the loss of our existing relationships with providers; the loss of key members of our management team; changes in our regulatory environment, including healthcare law and regulations; the inability to implement information systems or expand our workforce; changes in our industry; providers’ increasing resistance to application of certain healthcare cost management techniques; pressure to limit access to preferred provider networks; heightened enforcement activity by government agencies; the possibility that regulatory authorities may assert we engage in unlawful fee splitting or corporate practice of medicine; interruptions or security breaches of our information technology systems; the expansion of privacy and security laws; our inability to expand our network infrastructure; our ability to protect proprietary applications; our ability to identify, complete and successfully integrate future acquisitions; and other risks and uncertainties. You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause the company’s results to differ materially from those expressed or suggested in any forward-looking statement. Except as required by law, the company does not undertake any obligation to update or revise these forward -looking statements to reflect new information or events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events or otherwise.


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