Heritage Provider Network revives plans for potential US$7bi...

NEW YORK: Heritage Provider Network Inc (HPN) has revived plans for a potential sale, people with knowledge of the matter say, after previous attempts were thwarted by unstable financing markets and a data breach. The privately managed care company, led by founder Richard Merkin, has been working with advisers to assist in a sales process that's in the early stages. It has reached out to buyout firms including Advent International, Carlyle Group Inc, Hellman and Friedman, and TPG Inc to gauge their interest in a potential deal, the people said. A transaction could value Northridge, California-based HPN at about US$7bil to US$8bil, including debt, one of the people said, asking not to be identified discussing confidential information. A managed health-care company, Humana Inc, may be interested in taking a minority stake in HPN by partnering with a private equity buyer, according to a...