Everstone Capital and Goldman Sachs Alternatives have sold controlling stakes in Omega Healthcare Management Services to Ontario Teachers’ Pension Plan, a statement said. While the value of the deal was not mentioned, the stake sale valued Omega at around $1.8 billion, sources said.

Everstone, which had acquired a 19 per cent stake in Omega Healthcare in 2019, has sold 9 per cent stake and retains 10 per cent in it.

Goldman Sachs, which has also been an investor in Omega since 2019 and held a 60 per cent stake is understood to have sold 40 per cent and retain 20 per cent stake. Goldman Sachs did not respond to an email request for clarification on the transaction.

Both Everstone and Goldman Sachs have been looking for monetising their investment since early last year.

In December Ontario Teachers said in a release it had made an investment in Omega Healthcare and joined Private Equity at Goldman Sachs Alternatives as co-lead investors.

Exceptional care

Founded in 2003, Omega Healthcare works with healthcare institutions to empower them to deliver exceptional care while enhancing financial performance. It aims to help its clients increase revenues, decrease costs, and improve the overall patient experience through their comprehensive portfolio of technology-enabled and clinically-led solutions. It has around 35,000 employees across 14 delivery centres in the US, India, Colombia, and the Philippines.

Under the combined ownership of Everstone and Goldman Sachs, Omega has grown rapidly since 2019 launching key initiatives that have enhanced its market position and financial profile. These initiatives include significant technology investment that has yielded benefits for customers through proprietary tools, automation, and in-house expertise. It has scaled up its global delivery capabilities and transformed the organization into a full-suite revenue cycle management provider. It has also made four acquisitions to enter new market segments such as clinical and data services and to add new delivery capabilities in the US and Colombia.