M&A Deal Summary

Signify Health Acquires Advance Health

On December 7, 2017, Signify Health acquired healthcare services company Advance Health from Summit Partners and HarbourVest Partners

Acquisition Highlights
  • This is Signify Health’s 1st transaction in the Healthcare Services sector.
  • This is Signify Health’s 1st transaction in the United States.
  • This is Signify Health’s 1st transaction in Virginia.

M&A Deal Summary

Date 2017-12-07
Target Advance Health
Sector Healthcare Services
Buyer(s) Signify Health
Sellers(s) Summit Partners
HarbourVest Partners
Deal Type Merger
Advisor(s) Triple Tree LLC (Financial)
Ballard Spahr (Legal)

Target

Advance Health

Chantilly, Virginia, United States
Advance Health is a healthcare provider of prospective health risk assessments (“HRAs”). Advance Health offers in-home and facility-based HRAs and chronic care management services for health plans. Advance Health was founded in 2010 and is based in Chantilly, Virginia.

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Buyer(S) 1

Buyer

Signify Health

Dallas, Texas, United States

Category Company
Founded 2017
Sector Information Technology
Employees2,100
Revenue 773M USD (2021)
DESCRIPTION

Signify Health is a provider of in-home, technology-enabled healthcare services, partnering with health plans, pharma, and other risk-bearing organizations on its mission to improve quality of life by providing comprehensive care. Signify Health was founded in 2017 and is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 5
Sector (Healthcare Services) 1 of 2
Type (Merger) 1 of 2
State (Virginia) 1 of 1
Country (United States) 1 of 5
Year (2017) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-15 TAVHealth

San Antonio, Texas, United States

Triple Aim Ventures LLC is a provider of a platform for collaborating with risk-bearing and community-based organizations to address social determinants of health (SDOH). Triple Aim Ventures is based in San Antonio, Texas.

Buy -

Seller(S) 2

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 219 of 285
Sector (Healthcare Services) 25 of 33
Type (Merger) 3 of 4
State (Virginia) 6 of 7
Country (United States) 197 of 246
Year (2017) 14 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-05 TSheets.com

Eagle, Idaho, United States

TSheets.com LLC is a platform for small and medium businesses, self-employed, and accountants use to automate time tracking and scheduling for them and their workers. TSheets.com LLC was established in 2006 and is based in Eagle, Idaho.

Sell $340M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-12 LakePharma

San Carlos, California, United States

LakePharma is a biologics company specializing in antibody engineering, antibody discovery, molecular engineering, protein chemistry, bioexpression, biofunction, bioprocessing, and bioanalytics. LakePharma focuses on integrated platforms to support projects throughout the drug discovery process. LakePharma was founded in 2009 and is based in San Carlos, California.

Buy -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 92 of 134
Sector (Healthcare Services) 5 of 8
Type (Merger) 3 of 6
State (Virginia) 3 of 3
Country (United States) 57 of 85
Year (2017) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-05 Sun King

Nairobi, Kenya

Sun King is an off-grid solar energy company with cutting-edge product design, affordable financing, and a grassroots installation model to provide energy to the 1.8 billion consumers across Africa and Asia who lack access to reliable electricity. Sun King was founded in 2007 and is based in Nairobi, Kenya.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Smart City

Las Vegas, Nevada, United States

Smart City is a provider of quality, advanced technology and telecommunication services to the convention, trade show, and event industry. Smart City is based in Las Vegas, Nevada.

Buy -