Tampa’s Benefytt Technologies plans to go private
July 13, 2020 - Benefytt Technologies, a health insurance technology company in Tampa, has agreed to be acquired by funds affiliated with Madison Dearborn Partners, a private equity firm based in Chicago. Madison Dearborn said it would pay $31 for each share of Benefytt (Nasdaq: BFYT), which changed its name in March from Health Insurance Innovations Inc. The offer price per share is a 59 percent premium over the 30-day volume-weighted average price per share of Benefytt’s common stock through the close of trading on July 10, according to a news release. The deal is expected to close in Q3 2020, and after it does, Benefytt will become a private company. Gavin Southwell, CEO, and the rest of Benefytt's management team are expected to continue to lead the company, which plans to maintain its operations in Tampa.