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Castlight Health and Clayton Dubilier-Backed Vera Whole Health Merger to Combine

Vera Whole Health Inc will acquire Castlight Health Inc (NYSE:CSLT) at an equity value of approximately $370 million and structured as an all-cash.

Castlight Health is a healthcare navigation company. It offers comparison tools showing price and quality metrics for tests and procedures offered by healthcare providers.
Vera is a primary care organization.
Under the terms of the agreement, Vera will commence a tender offer to acquire Castlight shares at $2.05 in cash per share, representing a 25% premium to the closing price as of January 4th, 2022, and a 35% premium on the 30-day volume-weighted average share price.
Clayton, Dubilier & Rice, Vera’s majority equity holder, will invest up to $338 million to support the combination.
Anthem Inc (NYSE:ANTM), a long-time strategic customer of Castlight, will make an investment in the combined company.
The parties anticipate that the combination will complete in Q1 of 2022.
Price Action: CSLT shares are up 23.80% at $2.04 during the market session on the last check Wednesday.

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