ReviveHealth, a provider of complete healthcare subscription solutions, including primary and urgent care, mental health therapy, physical therapy, and pharmacy benefits services, announced the acquisition of a virtual care provider SwiftMD, for an undisclosed amount.
Eir Partners, a private equity firm that invests in high-growth healthcare companies, supported this acquisition. Eir Partners took a majority stake in ReviveHealth as a part of the transaction.
In a separate statement, Eir Partners also announced a combination of ReviveHealth and SwiftMD through a majority recapitalization.
“It is a massive opportunity and unmet need in the market to deliver a truly disruptive employee healthcare experience,” said Brett Carlson, Managing Member at Eir Partners. “We can do much better in this country, and we believe we have the leadership, solution set, and mission to execute on our ambitious vision.”
“Adding SwiftMD’s infrastructure and provider network to the ReviveHealth platform expands our membership to over 1,000,000 nationwide,” said Jeff Bernhard, ReviveHealth CEO. “We are excited to bring SwiftMD into the ReviveHealth portfolio as we pursue our shared vision of providing access to an exceptional quality of care at the most competitive cost in the market.”
According to our M&A database, over 300+ telehealth and telemedicine companies have been acquired to date.
Notable latest M&As in the telehealth sector include:
CVS Health, a healthcare company, acquired Signify Health, an in-home and virtual medical care service, for approximately $8 billion.
Amazon agreed to acquire One Medical, a provider of hybrid virtual care and same-day in-person appointments, for approximately $3.9 billion.
TELUS Health, a Canadian digital health technology company, acquired LifeWorks to expand its virtual mental health and wellness services, for CAD$2.3 billion. LifeWorks is a provider of digital and in-person solutions that support the total wellbeing of individuals – mental, physical, financial and social. The company has approximately 7,000 employees, 25,000 clients, and serves 36 million individuals and their families in more than 160 countries.
