TMCnet News
H.I.G. Growth Partners Completes Acquisition of Mobile HealthH.I.G. Growth Partners ("H.I.G. Growth"), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce that it has completed the acquisition of Mobile Health Consumer, Inc. ("Mobile Health" or the "Company"), an end-to-end digital health, wellness, and virtual care SaaS platform. The Company is focused on reducing healthcare costs for employers and increasing employee engagement, leading to improved health outcomes. Mobile Health helps employees proactively and effectively manage their health by identifying health risks, then using personalized incentives to facilitate appropriate care. This results in lower health risks for employees and reduced costs for employers. Mobile Health serves 4.5M+ lives and has over 90,000 customers, ranging from small businesses to some of the world's largest employers. John Halloran, Mobile Health's Founder and CEO, commented, "I am thrilled to partner with H.I.G. Growth. Their team's expertise and strategic vision align perfectly with our mission to transform digital health and wellbeing, improving health outcomes for millions while reducing costs to employers. Together, we'll help redefine how individuals engage with their health, making prevention and wellness more accessible." Eric Tencer, Managing Director at H.I.G. Growth, added, "Mobile Health is a highly innovative organization with a flexible low-code technology platform, uniquely enabling highly scalable deployment via channel partners and direct to employers of different sizes and across industries. We are excited to work with the Mobile Health team as they deliver compelling solutions to drive mproved employee health and reduce healthcare costs." H.I.G. Senior Advisor, Mary Moslander, will also join the Mobile Health Board. Mary previously founded LiveHealthier, Inc., which was acquired by Centene Corporation, after which she served as CEO of Centene's Envolve Innovation Lab and as an Entrepreneur-in-Residence. H.I.G. Growth worked with Raymond James as financial advisor and with Paul Hastings LLP and Bass, Berry & Sims PLC serving as legal advisors on the transaction. Software Equity Group acted as financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal counsel to the Company. About Mobile Health Mobile Health is an end-to-end digital health, wellness, and virtual care platform focused on reducing healthcare costs for employers and creating improved health outcomes for employees. The Company uses personalized incentives to drive targeted employee engagement and navigation of digital care paths, including third-party care and utilizing Mobile Health's proprietary content library of 2,000+ well-being and digital health activities. For more information, visit mobilehealthconsumer.com. About H.I.G Growth Partners H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $64 billion of capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe, and Latin America. H.I.G. Growth Partners invests across all industries, with a focus on certain high-growth sectors where it has extensive in-house expertise, such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth works closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a large in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at HIGgrowth.com. *Based on total capital raised by H.I.G. Capital and its affiliates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240617749373/en/ |
