Three Firms Lead Francisco Partners’ Bswift Buy from CVS Health

Kirkland & Ellis advised Francisco Partners on the private equity firm’s agreement to acquire Bswift, a Chicago-based provider of cloud-based technology and services for benefits enrollment and administration.

Fried Frank and Dechert advised seller CVS Health Corp. on the transaction, which is expected to close in 2022’s fourth quarter and for which no financial terms were disclosed.

Founded in 1996 and bought by insurer Aetna in 2014, Bswift provides software and services to help partners and employers manage employee health and welfare benefits, simplifying their enrollment and administration while reducing costs, according to a statement.

The agreement with Francisco Partners ...