GoodRx valued at about $2.8 billion after Silver Lake investment, sources say

Key Points
  • GoodRx's hunt for a buyer has culminated in an investment from Silver Lake that values the company at about $2.8 billion.
  • The private equity firm took about a third of the company in equity, sources say.
  • GoodRx did not comment on the terms of the deal.
A pharmacist collects medications for prescriptions at a pharmacy.
Simon Dawson | Bloomberg | Getty Images

Silver Lake, the technology-focused private equity firm, has taken a stake in health-technology startup GoodRx valuing it at about $2.8 billion, according to three people familiar with the matter.

Silver Lake will own about one-third of the company, two of the people said, who asked not to be named because details of the deal are private. The investment will make Silver Lake the largest shareholder in GoodRX, one of the people said. GoodRx and Silver Lake declined to comment on the financial terms of the deal.

CNBC first reported that GoodRx was in acquisition talks for up to $3 billion in June, with interested buyers including health distribution giant McKesson.

GoodRx offers people without health insurance, or with high deductible plans, a way to shop for drugs at lower prices than they'd find otherwise in the pharmacy. The company takes a percentage of the transaction when consumers use its drug discount cards. It does that through its relationships with pharmacy benefits managers.

"We're excited to welcome Silver Lake to the GoodRx family," said Doug Hirsch, Co-CEO of GoodRx, in a statement. "Silver Lake's proven track record as a technology investor will advance GoodRx's mission of making healthcare more affordable for all Americans."

Silver Lake joins current GoodRx investors Francisco Partners and Spectrum Equity.

"GoodRx's significant, growing digital platform has simplified the prescription drug market through increased transparency and lower prices in a short amount of time," said Greg Mondre and Adam Karol, of Silver Lake in a statement.

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