M&A Deal Summary

Personify Health Acquires Virgin Pulse

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

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

M&A Deal Summary
Date 2023-09-27
Target Virgin Pulse
Sector Internet Software and Services
Buyer(s) Personify Health
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

Personify Health

Fresno, California, United States
Category Company
Founded 1983
Sector Business Services
DESCRIPTION

Personify Health 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. Personify Health 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. Personify Health was founded in 1983 and is based in Fresno, California.

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 58 of 63
Sector (Internet Software and Services) 14 of 16
Type (Merger) 10 of 10
State (Rhode Island) 1 of 1
Country (United States) 43 of 46
Year (2023) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-11 Shift Media

Boston, Massachusetts, United States

Shift Media is a provider of cloud-based media collaboration and digital asset management solutions. SHIFT’s multi-tenant SaaS platform helps media and entertainment companies, advertising agencies and production houses securely create, share and collaborate on creative work at all stages of the content production lifecycle, embed visible and forensic watermarking into video and safely screen sensitive pre-release content. Shift Media is based in Boston, Massachusetts.

Sell -
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 was founded in 2013 and is based in Mineola, New York.

Buy -
Mergr

Product

Company

Legal