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PE-owned health care payments company Cotiviti files for IPO

Cotiviti HoldingsInc, a health care payments processing company, has registered for anIPO.

In a registration statement filed April 29, the company proposedto offer $100 million in common stock, an amount used solely to calculate the filingfee.

Its private equity owner, Advent International Corp., formed Cotiviti from the of Connolly LLCand iHealth Technologies Inc. in 2014.

A source familiar with the IPO told Bloomberg News earlier inApril that the offering could value Cotiviti at about $3 billion. Cotiviti recordednet income of $13.9 million and adjusted EBITDA of $203.4 million for the year endedDec. 31, 2015, according to the registration statement.

The company would use net proceeds from the offering to repaydebt and for general corporate purposes.

Goldman Sachs & Co., J.P. Morgan, Barclays, Citigroup, CreditSuisse, Morgan Stanley, RBC Capital Markets and SunTrust Robinson Humphrey are underwritingthe offering.

Cotiviti plans to trade under the symbol COTV.