Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice on its joint investment with Cardinal Health in naviHealth, the largest manager of post-acute benefits for health plans and a leading value-based care partner to health systems and providers.

Under the terms of the agreement, CD&R-managed funds will acquire approximately a 55% ownership stake in naviHealth while Cardinal Health will retain approximately a 45% interest in the business. In addition, Cardinal Health will have a call right to reacquire the business.

Founded in 1978, Clayton, Dubilier & Rice is a private investment firm. Since inception, CD&R has managed the investment of $26 billion in 80 companies, including healthcare services businesses, with an aggregate transaction value of more than $100 billion.

The Debevoise team is led by partner Paul S. Bird and includes partners Meir D. Katz, Henry Lebowitz and Scott B. Selinger; counsel Judith L. Church, Erin Cleary and Jacob W. Stahl and associates Spencer K. Gilbert, Samantha Berkovits, Samuel D. Krawiecz, Corina McIntyre, Ville Rauhala and Wendy D. Widman.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.