Performant Healthcare to be acquired by Machinify for $7.75/share in cash, ~$670M

Performant Healthcare Inc

Stockholders to receive $7.75 per share, a 139% premium to 90-day VWAP of $3.25.
Enterprise value approximately $670M; transaction expected to close by end of 2025.
Company Board unanimously approved; subject to stockholder and regulatory approvals.
CEO Simeon Kohl and CFO Rohit Ramchandani eligible for success bonuses of up to $850K and $551.25K respectively upon change of control.
Machinify is a portfolio company of New Mountain Capital; combined entity to focus on healthcare payments intelligence.

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