Humana and Florida Blue founded Availity in 2001 as a joint venture to help providers navigate back-end administrative processes with insurers. The company, which offers a real-time health information network, is worth $2 billion including debt, according to the report.
Francisco led a growth equity investment in Availity in 2017 with its existing investors, which includes Anthem, Humana and Blue Cross Blue Shield of Minnesota. Health Care Service Corp. and Florida Blue are also investors.
Francisco owns just under one-third of Availity and is working with an advisor to sell its minority stake, Bloomberg reports. Francisco and Availity declined to comment on the sales process.
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