BOSTON, June 17, 2024–(BUSINESS WIRE)–HIG Growth Partners (“HIG Growth”), a pure-play growth capital investment affiliate of HIG 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 focused on reducing healthcare costs for employers and improving employee engagement to improve health outcomes.
Mobile Health empowers employees to proactively and effectively manage their health by identifying health risks and using personalized incentives to encourage appropriate care, resulting in reduced health risks for employees and lower costs for employers. Mobile Health serves over 4.5 million people and has over 90,000 customers, ranging from small businesses to some of the world's largest employers.
“We are thrilled to partner with HIG Growth. Their team's expertise and strategic vision align perfectly with our mission to transform digital health and wellbeing, improving health outcomes for millions of people while reducing costs for employers,” said John Halloran, founder and CEO of Mobile Health. “Together we will redefine how individuals engage with their health, making prevention and wellness more accessible.”
Eric Tencer, Managing Director at HIG Growth, added, “Mobile Health is a highly innovative organization with a flexible, low-code technology platform that uniquely enables highly scalable deployments via channel partners and directly to employers of various sizes and industries. We are excited to work with the Mobile Health team as they deliver a compelling solution that drives improved employee health outcomes and reduced healthcare costs.”
HIG Senior Advisor Mary Moslander will also join the Mobile Health Committee. Mary previously founded LiveHealthier, Inc., which was acquired by Centene Corporation, and subsequently served as CEO and Entrepreneur in Residence at Centene's Envolve Innovation Lab.
HIG Growth engaged Raymond James as financial advisor and Paul Hastings LLP and Bass, Berry & Sims PLC as legal advisors on the transaction. Software Equity Group acted as financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal advisor 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 and improving employee health outcomes for employers. The company uses personalized incentives to drive targeted employee engagement and navigation of digital care paths, including third-party care, and leverages Mobile Health's proprietary content library of over 2,000 wellness and digital health activities. To learn more, visit mobilehealthconsumer.com.
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About HIG Growth Partners
HIG Growth Partners is a dedicated growth capital investment affiliate of HIG Capital, a leading global alternative investment firm with $64 billion in capital under management.* HIG Growth seeks to make majority and minority investments in strong, growth-oriented companies located throughout North America, Europe and Latin America. HIG Growth Partners invests across all industries with a focus on specific high-growth sectors where it has extensive in-house expertise, including technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. HIG Growth works closely with management teams to serve as an experienced resource, providing a full range of strategic, operational, recruiting and financial management services from its large in-house team and extensive third-party relationship network. For more information, please visit HIG's website at HIGgrowth.com.
*Based on total capital raised by HIG Capital and its affiliates.
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