M&A Deal Summary

Iris Telehealth Acquires InnovaTel

On January 21, 2025, Iris Telehealth acquired healthcare services company InnovaTel from Quartet

Acquisition Highlights
  • This is Iris Telehealth’s 1st transaction in the Healthcare Services sector.
  • This is Iris Telehealth’s 1st transaction in the United States.
  • This is Iris Telehealth’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2025-01-21
Target InnovaTel
Sector Healthcare Services
Buyer(s) Iris Telehealth
Sellers(s) Quartet
Deal Type Divestiture

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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Buyer(S) 1

Buyer

Iris Telehealth

Austin, Texas, United States

Category Company
Sector Healthcare Services
DESCRIPTION

Iris Telehealth is a provider of transformative behavioral health services for health systems and community healthcare organizations. Iris Telehealth is based in Austin, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 1

SELLER

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: Divestiture M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-08 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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