Prior notification of a concentration (Case M.11798 – PATIENT SQUARE / CARLYLE / CORROHEALTH) – Candidate case for simplified procedure
Date: 2024-11-14
Institutions: Directorate-General for Competition, European Commission
Subjects: artificial intelligence, consultancy, economic concentration, health care, health care system, information technology applications, investment company, merger control








C_202406960EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/6960


14.11.2024






Prior notification of a concentration
(Case M.11798 – PATIENT SQUARE / CARLYLE / CORROHEALTH)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/6960)


1.   
On 4 November 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:






—


Patient Square Capital Holdings, LLC (‘Patient Square Holdings’ and, together with its affiliates, ‘Patient Square’, USA),










—


Carlyle Group Inc. (‘Carlyle’, USA),










—


Coding Solutions Topco, Inc., a Delaware corporation (‘Topco’ and, together with its subsidiaries, ‘CorroHealth’, USA), currently solely controlled by Carlyle.




Patient Square and Carlyle will acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of CorroHealth.
The concentration is accomplished by way of purchase of shares.


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






—


Patient Square is a dedicated health care investment firm which invests in businesses whose products, services and technologies improve health,










—


Carlyle is a global alternative asset manager which manages funds that invest in Global Private Equity, Global Credit; and (iii) Investment Solutions.






3.   

The business activities of the undertaking CorroHealth are the following: providing advanced analytics, AI technology, and clinical expertise to optimize revenue cycle management for healthcare systems.



4.   
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.


5.   
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.11798 – PATIENT SQUARE / CARLYLE / CORROHEALTH
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/2024/6960/oj
ISSN 1977-091X (electronic edition)