Benzinga | Jul 13, 2020 07:04AM EDT

Benefytt Technologies, Inc. To Be Acquired By Madison Dearborn Partners Through Tender Offer Of $31/Share

Tender Offer of $31.00 per Share to be Commenced in Coming Days to Complete All-Cash Transaction

TAMPA, Fla., July 13, 2020 (GLOBE NEWSWIRE) -- Benefytt Technologies, Inc. (NASDAQ:BFYT) ("Benefytt") ("the Company"), a health insurance technology company and leading distributor of Medicare-related health insurance plans, today announced that it has entered into a definitive agreement to be acquired by funds affiliated with Madison Dearborn Partners, LLC (the "MDP Funds"), a leading private equity firm based in Chicago that has deep experience in the insurance technology and health care industries. The all-cash transaction is structured as a tender offer of $31.00 per share that will commence in the coming days, followed immediately by a merger.