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  6. Canyon Healthcare Partners Exits InnovaTel

Investment Summary

Canyon Healthcare Partners Exits InnovaTel

On December 8, 2021, Quartet invested in healthcare services company InnovaTel from Canyon Healthcare Partners

Investment Highlights
  • This is Quartet’s 1st transaction in the Healthcare Services sector.
  • This is Quartet’s 1st transaction in the United States.
  • This is Quartet’s 1st transaction in Pennsylvania.
Investment Fate
  • InnovaTel was divested to a consortium of strategic buyers in 2025.

Investment Summary
Date 2021-12-08
Target InnovaTel
Sector Healthcare Services
Investor(s) Quartet
Sellers(s) Canyon Healthcare Partners
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)

Target

InnovaTel

Erie, Pennsylvania, United States
Innovatel is a provider of psychiatric telehealth services to adolescents and adults. InnovaTel address the need for a shortage of psychiatrists in community mental health settings, particularly in rural areas that experience difficulty recruiting and retaining qualified psychiatrists. InnovaTel was founded in 2014 and is based in Erie, Pennsylvania.

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Investor(S) 1

Investor

Quartet

New York City, New York, United States
Category Company
Founded 2014
Sector Software
DESCRIPTION

Quartet provides software solutions, behavioral health and patients a new value-based care delivery model. Quartet was founded in 2014 and is based in New York City, New York.

DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-21 InnovaTel

Erie, Pennsylvania, United States

Innovatel is a provider of psychiatric telehealth services to adolescents and adults. InnovaTel address the need for a shortage of psychiatrists in community mental health settings, particularly in rural areas that experience difficulty recruiting and retaining qualified psychiatrists. InnovaTel was founded in 2014 and is based in Erie, Pennsylvania.

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Seller(S) 1

SELLER

Canyon Healthcare Partners

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Canyon Healthcare Partners is a private equity firm focused on the healthcare sector. Canyon Healthcare Partners was established in 2014 and is headquartered in Ross, California.

DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 InnovaTel

Erie, Pennsylvania, United States

Innovatel is a provider of psychiatric telehealth services to adolescents and adults. InnovaTel address the need for a shortage of psychiatrists in community mental health settings, particularly in rural areas that experience difficulty recruiting and retaining qualified psychiatrists. InnovaTel was founded in 2014 and is based in Erie, Pennsylvania.

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