Health Enterprise Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Health Enterprise Partners has acquired 1 company. It has also invested in 6 others.

Health Enterprise Partners’ most common sectors for investment are healthcare services (49%) and information technology (23%). The Firm’s most common investment types include growth capital (49%) and venture (26%). In total, Health Enterprise Partners has invested in 13 US states. Its largest (disclosed) acquisition occurred in 2008 when it acquired Passport Health Communications for $232M.

In the last 3 years, Health Enterprise Partners has exited 5 companies. The Firm’s most common exit type is trade sale (80%). Health Enterprise Partners’ largest (disclosed) exit occurred in 2013 when it sold Passport Health Communications for $850M.

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M&A Summary

  • M&A Total Activity42
    • M&A Buy Activity27
    • M&A Sell Activity15
  • Total Sectors Invested 7
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 22

Health Enterprise Partners LP

565 Fifth Avenue, 26th Floor,
New York, New York 10017
United States
(212) 981-6901
www.hepfund.com
info@hepfund.com

Health Enterprise Partners is a private equity firm focused on the healthcare technology, tech-enabled services, and healthcare services. Specific areas of interest include behavioral health IT, consumer engagement platforms, data security, genomics data analytics, payor services, tech-enabled substance abuse management, social determinants of health, and virtual care. The Firm generally pursues growth equity investments and small buy-and-builds. Health Enterprise Partners was formed in 2006 and is headquartered in New York City.


Investment Criteria

Sectors of Interest: Healthcare Services, Information Technology, Internet Software and Services, Life Science, Medical Products, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Secondary Buyout, Stake Purchase, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 5 15
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.6/yr) # 19 1 2 4 - 1 27
vol $427M $427M
Sell (1.0/yr) # 10 - 2 1 1 1 15
vol $1.2B $1.2B
  42

Most Recent M&A

Company Date Value Type
Axia Technologies LLC 2021-04-02 - Add-on Acquisition
Santa Barbara, California · www.axiamed.com
Aware Recovery Care 2021-01-29 - Growth Capital
Wallingford, Connecticut · www.awarerecoverycare.com
Evariant, Inc. 2020-01-07 - Add-on Acquisition
Farmington, Connecticut · www.evariant.com
Access Physicians 2019-11-07 - Venture
Dallas, Texas · www.accessphysicians.com
Twistle, Inc. 2019-10-29 - Venture
Seattle, Washington · www.twistle.com
InDemand Interpreting 2019-05-23 - Add-on Acquisition
Seattle, Washington · www.indemandinterpreting.com
Payer Compass LLC 2019-01-04 - Recapitalization
Plano, Texas · www.payercompass.com
Jvion, Inc. 2019-01-03 - Growth Capital
Johns Creek, Georgia · www.jvion.com
SHYFT Analytics 2018-06-12 - Add-on Acquisition
Waltham, Massachusetts · www.shyftanalytics.com
Intraprise Health 2018-05-08 - Growth Capital
Yardley, Pennsylvania · www.intraprisehealth.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 7 (47%) - 13 (48%) 427M (100%)
Information Technology 2 (13%) - 6 (22%) -
Internet Software and Services 2 (13%) - 3 (11%) -
Software 1 (7%) - 2 (7%) -
Business Services 1 (7%) - 1 (4%) -
Information Services 1 (7%) - 1 (4%) -
Medical Products 1 (7%) - 1 (4%) -
Total 15 - 27 $427M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (100%) - 27 (100%) 427M (100%)
  Texas 3 (20%) - 4 (15%) -
  Washington 2 (13%) - 3 (11%) -
  Tennessee 1 (7%) - 3 (11%) 272M (64%)
  Pennsylvania 1 (7%) - 3 (11%) -
  Connecticut 1 (7%) - 3 (11%) -
  California 2 (13%) - 2 (7%) -
  Virginia 1 (7%) - 2 (7%) -
  Florida - - 2 (7%) 155M (36%)
  North Carolina 1 (7%) - 1 (4%) -
  New Jersey 1 (7%) - 1 (4%) -
  Georgia 1 (7%) - 1 (4%) -
  Alabama 1 (7%) - 1 (4%) -
  Arizona - - 1 (4%) -
Total 15 - 27 $427M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 9 (60%) - 13 (48%) -
Venture 4 (27%) - 7 (26%) -
Buyout (LBO, MBO, MBI) 1 (7%) - 4 (15%) 40M (9%)
Secondary Buyout - - 1 (4%) 232M (54%)
Going Private - - 1 (4%) 155M (36%)
Recapitalization 1 (7%) - 1 (4%) -
Total 15 - 27 $427M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 6 (40%) 1.2B (100%)
Trade Sale 6 (40%) -
Secondary Sale 2 (13%) -
Unknown 1 (7%) -
Total 15 $1.2B

Deal Values

buy # Total
$100M to $1B 2 $387M
< $100M 1 $40M
TOTAL $427M
Largest Passport Health Communications, Inc.
$232M (2008-07-31)
sell # Total
$100M to $1B 3 $1.2B
TOTAL $1.2B
Largest Passport Health Communications, Inc.
$850M (2013-11-21)

M&A Connections

Deals
Acquired from
Investor(s)
7%
2 (7%)
Exited to
Investor(s)
13%
2 (13%)
Strategic(s)
80%
12 (80%)

Investor Summary

Size

Middle-Market

PE Assets

425M USD

Established

2007

Specialist/Generalist

Specialist

Leadership

Bob Schulz

Co-Founder & Managing Partner

Rick Stowe

Co-Founder & Managing Partner

Dave Tamburri

Managing Partner

Ezra Mehlman

Managing Partner

Pete Tedesco

Principal

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