Insider caught up with RowdMap’s Chief Scientific Officer Josh Rosenthal this spring as the company’s growth prompted it to transform an old downtown warehouse into a state-of-the-art office and meeting space.
The company, founded in 2011, has been on a growth tear, adding staff, gaining clients and diversifying among the kinds of clients it is attracting, from health care providers such as hospitals and physician groups to organizations who pay for the care, including insurance companies and government agencies.
Under the terms of the deal, Cotiviti will pay $70 million in cash, subject to certain adjustments, according to a press release. Cotiviti said it intended to fund the entire purchase price with available liquidity. It also intends to issue an aggregate of approximately 800,000 shares of restricted common stock to certain employees of RowdMap as a material inducement to their employment with Cotiviti, and in reliance on New York Stock Exchange.
The transaction is expected to close by the end of July 2017. Shares of Cotiviti closed up 1.5 percent, to $40.32.