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(Reuters) – European buyout group Nordic Capital has agreed to take a majority stake in US-based health software company ArisGlobal LLC, the Wall Street Journal reported on Sunday, citing a person close to the case.
The transaction badesses ArisGlobal at $ 700 million, including debt, and comes as Nordic Capital plans to establish its first US office in the fall in New York and increase investment in the US healthcare sector. , reported the Journal.
The executive director of ArisGlobal, Sankesh Abbhi, will remain within the company in his current role after the transaction, according to the report, which would have added that Abbhi and his family would retain a minority stake in ArisGlobal.
Nordic Capital and ArisGlobal did not respond to a request for comment from Reuters on Sunday.
Report of Kanishka Singh in Bengaluru; Edited by Peter Cooney
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