M&A Deal Summary

Everly Health Acquires PWNHealth

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

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

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

Target

PWNHealth

New York, New York, United States
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

Everly Health

Austin, Texas, United States
Category Company
Founded 2015
Sector Healthcare Services
DESCRIPTION

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

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
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 $150 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 76
Sector (Healthcare Services) 2 of 2
Type (Add-on Acquisition) 37 of 45
State (New York) 6 of 10
Country (United States) 54 of 67
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Everly Health

Austin, Texas, United States

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

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-22 Empyrean Solutions

Woburn, Massachusetts, United States

Empyrean Solutions provides asset and liability risk and performance management software for banks and credit unions. Empyrean’s software allows banks and credit unions of all sizes to take control of their balance sheet management, scenario planning, and risk analysis in a single software platform. Empyrean Solutions was founded in 2008 and is based in Woburn, Massachusetts.

Buy -
Mergr

Product

Company

Legal