Investment Summary

Bedford Funding Exits MDLive

On February 26, 2021, Evernorth invested in information technology company MDLive from Bedford Funding

Investment Highlights
  • This is Evernorth’s 1st transaction in the Information Technology sector.
  • This is Evernorth’s 1st transaction in the United States.
  • This is Evernorth’s 1st transaction in Florida.

Investment Summary

Date 2021-02-26
Target MDLive
Sector Information Technology
Investor(s) Evernorth
Sellers(s) Bedford Funding
Deal Type Add-on Acquisition
Advisor(s) BofA Securities (Financial)
Davis Polk & Wardwell (Legal)

Target

MDLive

Sunrise, Florida, United States
MDLive, Inc. is a provider of online and on-demand health-care delivery services and cloud-based software-and the firm is prepared to fork out more. MDLive was founded in 2006 and is based in Sunrise, Florida.

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Investor(S) 1

Investor

Evernorth

United States

Category Company
Sector Healthcare Services
DESCRIPTION

Evernorth is a health services company built on the recognition that health makes progress possible.


DEAL STATS #
Overall 1 of 2
Sector: Information Technology M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 2
State: Florida M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2021 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-10 Bright.md - Technology Platform

Portland, Oregon, United States

Bright.md's Technology Platform is a technology and clinical capabilities provider.

Buy -

Seller(S) 1

SELLER

Bedford Funding

White Plains, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2006
PE ASSETS 1.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Bedford Funding is a specialist private equity firm focused on investing in the technology sector. Bedford has a specific interest in the software and IT services sectors where the firm can leverage the principals' industry experience. Prospective transaction situations include common stock purchases, leveraged buyouts, take-privates, PIPEs, recapitalizations, and consolidations. Bedford Funding was formed in 2006 and is based in White Plains, New York.


DEAL STATS #
Overall 2 of 2
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Florida M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-25 PeopleFluent

Waltham, Massachusetts, United States

PeopleFluent, Inc. is an independent provider of cloud based integrated talent solutions focusing on all aspects of the employee lifecycle: recruitment, development, performance and compensation. PeopleFluent, Inc. was established in 1997 and is based in Waltham, Massachusetts.

Sell £107M