A consortium led by an affiliate of Goldman Sachs Group Inc. (NYSE: GS), Pamplona Capital Management and MagnaCare Holdings Inc.’s management team, have purchased MagnaCare. Terms of the deal were not disclosed.
New York-based MagnaCare is a health plan services company that offers administrative services and access to a proprietary provider network of more than 95,000 physicians, hospitals and other health care provides. The company manages about $1.5 billion in annual health care expenses. The transaction follows Stratose’s acquisition of health care network operator PPOplus LLC.