Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent on a senior secured credit facility (the “Financing”) to CheckedUp (the “Company”), a New York-based provider of digital healthcare solutions, to support the Company’s acquisition of Health Media Network (“HMN”), a Norwalk, Conn.-based provider of digital healthcare solutions and wellness content. The Financing will also be used to support the future growth of the combined platform. CheckedUp is a portfolio company of Rockbridge Growth Equity, a Michigan-based private equity firm focused on the middle market.
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The acquisition brings together two of the leading companies in the digital point-of-care patient education space with complementary reach across a diverse group of medical specialties, hospital and healthcare systems, standalone care facilities, and companies nationwide.
“Comvest is pleased to leverage our deep healthcare industry expertise and knowledge of sector dynamics in structuring a significant needs-responsive credit facility to help fund CheckedUp’s acquisition of HMN. In addition, Comvest provided delayed draw commitments for the future growth of the business,” said Tom Goila, a Partner at Comvest and Co-Head of the Healthcare group.
“We are excited for the opportunity to work again with Rockbridge Growth Equity on a meaningful transaction involving a technology-focused portfolio company,” said Joe Higginbotham, a Principal at Comvest. “We look forward to continuing to build our relationship with the Rockbridge team and to supporting CheckedUp as the Company further scales its footprint, technologies and programming to reach an even wider set of healthcare professionals, caregivers and patients.”
CheckedUp is a physician-founded digital patient education company that actively engages patients, caregivers and physicians at the Point of Care, providing condition-specific, active patient engagement through a variety of digital touchpoints including TVs and interactive digital wallboards.
SOURCE: Globe Newswire