Vera Whole Health, Inc. ("Vera") announced today that it has successfully completed its previously announced acquisition of Castlight Health, Inc. ("Castlight") at a price of $2.05 per share, net to the seller, in cash, without interest and subject to any required tax withholdings. Funds advised by Clayton, Dubilier & Rice, LLC ("CD&R") are the majority equity holders of Vera.
With the completion of the acquisition, Castlight's stock will cease trading on the New York Stock Exchange and Castlight will no longer be listed on any public market.
William Blair served as exclusive financial advisor to Castlight, and Fenwick & West LLP served as legal advisor to Castlight. Kirkland & Ellis LLP served as legal advisor to Vera.
Vera Whole Health is leading the critical shift to value-based care across the United States. Vera is the only care model with the capability to deliver whole system health to a diverse patient population from a single care center. The Vera model is uniquely designed to help people achieve optimum social, psychological, and physical well-being - an outcome that's neither probable nor affordable within the current sick-care system.
About Castlight Health
Castlight is on a mission to make it as easy as humanly possible for people to navigate the healthcare system and live happier, healthier, more productive lives. As a leader in healthcare navigation, we provide a world-class digital platform with a team of clinical and benefits experts to help members easily connect and engage with the right programs and care, at the right time. Castlight partners with Fortune 500 companies and health plans to transform employee and member benefits into one comprehensive health and wellbeing experience to deliver better health outcomes and maximize returns on healthcare investments.
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. The Firm's core industries for investment are healthcare, consumer/retail, technology/business services, and industrials. Since inception, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of more than $175 billion. The Firm has offices in New York and London.