M&A Deal Summary

Everlywell Acquires PWNHealth

On March 24, 2021, Everlywell acquired healthcare services company PWNHealth from Spectrum Equity

Acquisition Highlights
  • This is Everlywell’s 1st transaction in the Healthcare Services sector.
  • This is Everlywell’s 1st transaction in the United States.
  • This is Everlywell’s 1st transaction in New York.

M&A Deal Summary
Date 2021-03-24
Target PWNHealth
Sector Healthcare Services
Buyer(s) Everlywell
Sellers(s) Spectrum Equity
Deal Type Add-on Acquisition
Advisor(s) Evercore Group (Financial)
Choate Hall & Stewart LLP
Jones Day (Legal)

Target

PWNHealth

New York, New York, United States
website
PWNHealth is a provider of lab connectivity, compliance, and patient outreach solutions for health and wellness, telemedicine, diagnostic labs, and payer markets. PWN services all 50 states and Puerto Rico with telehealth and telegenetic services. PWN model enables safe and easy access to diagnostic testing, ensuring clinical validity, utility, quality consumer education, access to clinicians, and the ability to implement national programs seamlessly. PWNHealth is based in New York City.

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Buyer(S) 1

Buyer

Everlywell

Austin, Texas, United States

website

Category Company
Founded 2015
Sector Healthcare Services
DESCRIPTION

Everlywell is a digital health company that committed to transforming lives through high-quality diagnostic care with a user-first digital experience. Everlywell provides Americans access to more than 35 home collection lab tests, sold online and in major retailers such as Target, CVS, and Walgreens. Everlywell was founded in 2015 and is based in Austin, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1

Seller(S) 1

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 4.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $100 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 60 of 70
Sector (Healthcare Services) 2 of 2
Type (Add-on Acquisition) 37 of 43
State (New York) 6 of 8
Country (United States) 54 of 63
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Quantile Group

London, United Kingdom

Quantile Group reduces risk in financial markets, delivering advanced strategies that rebalance and reduce counterparty risk between market participants, increasing the efficiency and liquidity of markets, improving returns for clients and making the financial system safer. Clients include the G15 top tier global banks, regional banks and other large institutional market participants. Quantile was founded in 2015 and is headquartered in London, with offices in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-18 Goldbelly

New York, New York, United States

Goldbelly is an operator of a platform for national food e-commerce. Goldbelly empowers restaurants and food makers by offering a platform for small local businesses to reach new customers outside of their local area. Goldbelly is based in New York City.

Buy -
Mergr

Product

Company

Legal