M&A Deal Summary

HealthComp Acquires Virgin Pulse

On September 27, 2023, HealthComp acquired internet software and services company Virgin Pulse from Marlin Equity Partners

Acquisition Highlights
  • This is HealthComp’s 1st transaction in the Internet Software and Services sector.
  • This is HealthComp’s 2nd transaction in the United States.
  • This is HealthComp’s 1st transaction in Rhode Island.

M&A Deal Summary

Date 2023-09-27
Target Virgin Pulse
Sector Internet Software and Services
Buyer(s) HealthComp
Sellers(s) Marlin Equity Partners
Deal Type Merger
Advisor(s) Evercore Group (Financial)
McDermott Will & Emery (Legal)

Target

Virgin Pulse

Providence, Rhode Island, United States
Virgin Pulse is a provider of employee-centric solutions that drive wellbeing, culture and productivity across organizations around the world. Virgin Pulse platform is purpose built to deliver a personalized, consumer-grade user experience designed to promote health, productivity, and culture across organizations and employees. Virgin Pulse was founded in 2004 and is based in Providence, Rhode Island.

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Buyer(S) 1

Buyer

HealthComp

Fresno, California, United States

Category Company
Founded 1983
Sector Business Services
DESCRIPTION

HealthComp is a third party administrator (TPA) of healthcare benefits to self-funded employers. The Company addresses the “dual mandate” to reduce costs and improve outcomes within the healthcare ecosystem. HealthComp offers core healthcare administrative services alongside a robust set of payment integrity and care management offerings to reduce costs, maximize efficiencies, and improve health outcomes for self-funded employer groups.


DEAL STATS #
Overall 2 of 2
Sector (Internet Software and Services) 1 of 1
Type (Merger) 1 of 1
State (Rhode Island) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-17 Gilsbar - TPA Division

Covington, Louisiana, United States

Gilsbar’s TPA offers a fully-integrated approach to benefit plan administration, which includes sophisticated technology and personalized service. Through MedCom, Gilsbar’s in-house care management division, the company delivers care management programs that positively impact employee health and wellbeing.

Buy -

Seller(S) 1

SELLER

Marlin Equity Partners

Hermosa Beach, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Marlin Equity's headquarters in Hermosa Beach, California.
Marlin Equity's headquarters in Hermosa Beach, California.

Marlin Equity Partners is a private investment firm focused on acquiring distressed businesses with sales of $10 million to $2 billion. Marlin has a special interest in non-core or underperforming divisions of larger corporations, as well as companies facing some sort of financial, operational or market-related transition. Marlin is a generalist investor and will consider opportunities in technology (software, IT, payment systems, hardware, communications, internet), healthcare, consumer (apparel, retail, consumer products, food/beverage), services (business, financial, consumer, education), manufacturing (automotive, industrial, metals, plastics), aerospace, defense, and media. Marlin prefers businesses with scalable business models, strong installed customer bases, defensible market positions, and barriers to entry. Marlin Equity Partners was formed in 2005 and is based in Hermosa Beach, California with an additional office in London.


DEAL STATS #
Overall 55 of 58
Sector (Internet Software and Services) 13 of 15
Type (Merger) 9 of 9
State (Rhode Island) 1 of 1
Country (United States) 41 of 44
Year (2023) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-09 Meltwater

San Francisco, California, United States

Meltwater is a provider of online intelligence solutions. Meltwater helps companies make better, more informed decisions based on insights from the outside. More than 25,000 companies use the Meltwater media intelligence platform to stay on top of billions of online conversations, extract relevant insights, and use them to strategically manage their brand and stay ahead of their competition. Meltwater was founded in 2001 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-02 Trafix

Mineola, New York, United States

Trafix is a broker neutral FinTech company providing innovative global Order & Execution Management solutions, real-time FIX connectivity and normalized API interfaces to address the functional and regulatory requirements of the Financial Services Industry. Trafix is based in Mineola, New York.

Buy -