KKR&Co., Ltd. KKR announced that it has acquired SunFireMatrix, Inc. for an undisclosed amount.
SunFireMatrix is a software and technology-enabled services platform serving the insurance distribution and health insurance markets.
KKR is funding the investment through its Healthcare Strategic Growth (HCSG) Fund II. The fund focuses on investing in high-growth healthcare companies where KKR can be a unique strategic partner to help scale.
Funds managed by SunFireMatrix’s former majority owner, Stone Point Capital LLC, will remain a significant minority shareholder.
Ali Satvat, Partner and Global Head of Healthcare Strategic Growth at KKR, said: We are impressed with what Dave and his entire SunFire team have accomplished and look forward to working closely with them in the company’s next phase of growth. ”
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Johnny Kim, director of KKR, said: “We are excited to support Sunfire’s mission to leverage industry-leading technology and best-in-class customer service to create a more seamless and reliable experience for patients, health plans, and distribution partners.” ”
At the end of FY23, KKR’s cash and investments amounted to $29 billion.
Investors can gain exposure to stocks through: Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF FMCX and EA Series Trust White Wolf Listed Private Equity ETF LBO.
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price action:KKR stock fell 2.97% to $97.03 at last check on Tuesday.
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