In Brief: Lehman to Buy Stake in Health-Care Firm

October 13, 2000, 1:00 a.m. EDT 1 Min Read

Dow Jones

NEW YORK - Lehman Brothers Holdings Inc. plans to invest in Cain Brothers & Co., a New York health-care investment banking company, and will receive a 14% stake in the company, as part of a strategic partnership between the two companies.

The price was not disclosed.

Through a joint venture, the companies will work on health-care investment banking and municipal finance activities, Lehman said. The partnership is expected to generate new business opportunities for Lehman's public and corporate finance, real estate, and private equity units, the company said.

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