KKR has acquired a stake in Cotiviti from Veritas Capital, according to a news release. The deal is valued at around $11 billion, according to WSJ.

Cotiviti, based in South Jordan, Utah, is a healthcare data and technology business. Founded in 1979, the company states it works with more than 180 healthcare payers to deliver payment accuracy, risk adjustment, quality improvement, network and clinical analytics, and consumer engagement programs. Cotiviti also supports the retail industry.

The private equity platform of Kohlberg Kravis Roberts (KKR) & Co., which is based in New York, considers investments in all industries, including healthcare. Founded in 1976, the firm prefers to invest in a range of debt and public equity investing and may co-invest, seeking a controlling ownership of a company or a strategic minority position.

Veritas, founded in 1992 and based in New York, is a private equity firm that primarily targets technology or technology-enabled solutions for several sectors, including healthcare.

Under the agreement, KKR and Veritas will be co-sponsors with equal ownership stakes in Cotiviti. 

Terms of the transaction were not disclosed.