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Between a still-choppy market for stock-market listings and a dealmaking slump, buyout shops have few easy options to offload their investments. Waystar, whose backers include Canada Pension Plan Investment Board and EQT, is trying its luck with the initial public offering route. Last valued at $2.7 billion, the healthcare payments company is now eyeing a debut at nearly three times that figure, according to Reuters. With its deal-heavy growth strategy crimped by high interest rates, it’s likely the company’s best option, but the valuation looks aggressive. Waystar provides software to handle billing and payments for healthcare providers, some three-fourths of whom still manage those functions in-house,
After 25 years of muscling in on mega-finance, PayPal should benefit from outside help. A six-month CEO search led to Alex Chriss at Intuit to replace retiring Dan Schulman. The $70 billion company’s struggles, and the incoming chief’s credentials, set the stage for a transaction of some sort. PayPal has become the most trusted place, beyond banks, for consumers to store their money, according to research firm Euromonitor. Earlier this month, however, its quarterly results disappointed investors again, sending its stock down another 12% and bringing the decline to 80% since a July 2021 peak. Chriss ought to be able to help in one trouble spot,