Carlyle in talks to buy Veritas' Cotiviti

Carlyle Group is in talks to buy health tech giant Cotiviti for nearly $15 billion, including debt, from Veritas Capital, as reported by Bloomberg and confirmed by Axios.

Why it matters: The deal would include a stunning $5.5 billion private loan, one of the largest-ever direct loans in the private credit market.

Details: Goldman Sachs is providing sell-side advice to Veritas, sources tell Axios.

• A deal will depend on Carlyle's ability to secure financing, Bloomberg reports.

Flashback: Veritas took Cotiviti private in 2018 for about 4.9 billion, only to test its public market readiness three years later, when it reportedly explored a dual process for the asset.

• Cotiviti's software solutions are designed to improve the financial and quality performance of health care providers.

The bottom line: If the deal is done at the terms being discussed, it may be a harbinger for structures to come, especially as the syndicated financing markets remain cool.

Carlyle declined comment. Veritas and Goldman did not return requests for comment.