UpHealth To Sell Cloudbreak Health To GTCR For $180 Mln In Cash

(RTTNews) - UpHealth Inc. (UPH) said that it agreed to sell its wholly-owned subsidiary Cloudbreak Health LLC to a private equity firm GTCR for $180 million in cash.

UpHealth noted that it will utilize the proceeds from the sale for payment in full or in part of the Company's 2026 Unsecured and 2025 Secured Notes, as well as other expenses related to the transaction.

The company expects to close the sale of Cloudbreak during the first half of 2024, following the receipt of customary regulatory and stockholder approvals and closing conditions.

As part of the transaction, GTCR will acquire complete equity ownership of Cloudbreak, including the aggregate Cloudbreak employee base.