Prior notification of a concentration (Case M.11454 – KKR / VERITAS / COTIVITI) – Candidate case for simplified procedure
Date: 2024-02-28
Institutions: Directorate-General for Competition, European Commission
Subjects: capital market, data processing, economic concentration, health care, insurance, investment company, merger control, provision of services, retail trade, technology








C_202401807EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2024/1807


28.2.2024






Prior notification of a concentration
(Case M.11454 – KKR / VERITAS / COTIVITI)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/1807)


1.   
On 15 February 2024, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


KKR & Co. Inc. (‘KKR’, United States),










—


Veritas Capital Fund Management, L.L.C. (‘Veritas’, United States), controlled by Veritas Manager Holdings, L.P. (United States).










—


Cotiviti Intermediate Holding Corp., (‘Cotiviti’, United States), currently solely controlled by Veritas.




KKR and Veritas will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Cotiviti.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions.










—


Veritas is an investment firm with a focus on companies operating at the intersection of technology and government.










—


Cotiviti is a provider of data analytics services, aimed at identifying proper payment and clinical coding as well as the monitoring of quality-of-care delivery, in the healthcare and retail industries. Cotiviti’s activities are mainly focused on the United States.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.11454 – KKR / VERITAS / COTIVITI
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/1807/oj
ISSN 1977-091X (electronic edition)