CASTLIGHT HEALTH, INC.

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Castlight Health to Be Acquired by CD&R's Vera for $370 Million

01/05/2022 | 09:05am EDT

By Colin Kellaher

Castlight Health Inc. on Wednesday said it agreed to be acquired by Vera Whole Health Inc., an advanced primary healthcare provider majority owned by private-equity firm Clayton Dubilier & Rice LLC, for about $370 million.

Castlight, a San Francisco provider of healthcare information-technology solutions, said Vera would pay $2.05 a share in cash, a 25% premium to Tuesday's closing price of $1.64.

Castlight said CD&R, which bought a majority stake in Seattle-based Vera last year, would commit up to $338 million to support the deal, while health insurer Anthem Inc., a long-time Castlight customer, also plans to invest in the combined company.

Castlight said the combined company would integrate its navigation technology with Vera's primary-care model to expand access to care, reduce healthcare costs and improve outcomes.

Castlight said Ron Williams, a former chairman and chief executive of health insurance giant Aetna who now serves as chairman of Vera and an operating adviser to CD&R, would serve as chairman of the combined company upon completion of the transaction, expected by the end of the first quarter.

Shares of Castlight jumped 23%, to $2.02, in premarket trading Wednesday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

01-05-22 0904ET

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AGILON HEALTH, INC. 0.31% 19.23 Delayed Quote.-28.78%
ANTHEM, INC. 1.47% 493.59 Delayed Quote.6.48%
ZR (ZR) - CBE (ELECTRONIC)/C1 0.00% 17.86 End-of-day quote.18.73%
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03/02CASTLIGHT INVESTOR ALERT BY THE FORM : Kahn Swick & Foti, LLC Investigates Adequacy of Pri..
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02/17CASTLIGHT HEALTH : Vera Whole Health, Inc. Completes Acquisition of Castlight Health, Inc ..
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02/17CASTLIGHT HEALTH, INC. : Completion of Acquisition or Disposition of Assets, Material Modi..
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02/17CASTLIGHT HEALTH, INC.(NYSE : CSLT) dropped from S&P TMI Index
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02/16Vera Whole Health Inc. completed the acquisition of Castlight Health, Inc. from Maveric..
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01/25SHAREHOLDER ALERT : WeissLaw LLP Reminds ATVI, ZNGA, BRG, and CSLT Shareholders About Its ..
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01/07CASTLIGHT INVESTOR ALERT BY THE FORM : Kahn Swick & Foti, LLC Investigates Adequacy of Pri..
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01/06SHAREHOLDER ALERT : Ademi LLP investigates whether Castlight Health, Inc. has obtained a F..
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01/05SHAREHOLDER ALERT : WeissLaw LLP Investigates Castlight Health, Inc.
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Castlight Health, Inc. Technical Analysis Chart | CSLT | US14862Q1004 | MarketScreener
Managers and Directors
Maeve O'Meara Chief Executive Officer
Will Bondurant Chief Financial Officer & Senior Vice President
Vijay Anand Executive Vice President-Engineering
Scott Tweedy Senior Vice President-Support & Technology
Alex Shvartsman Secretary, Senior VP & General Counsel
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