H.I.G. Growth Partners Completes Acquisition of Mobile Health
June 17 2024 - 9:30AM
Business Wire
H.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 improved
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240617749373/en/
Eric Tencer Managing Director etencer@higgrowth.com
H.I.G. Growth Partners 500 Boylston Street 20th Floor Boston, MA
02116 P: 617.262.8455 higgrowth.com