M&A Deal Summary

Transcarent Acquires 98point6

On March 6, 2023, Transcarent acquired healthcare services company 98point6 from L Catterton Partners

Acquisition Highlights
  • This is Transcarent’s 1st transaction in the Healthcare Services sector.
  • This is Transcarent’s 1st transaction in the United States.
  • This is Transcarent’s 1st transaction in Washington.

M&A Deal Summary
Date 2023-03-06
Target 98point6
Sector Healthcare Services
Buyer(s) Transcarent
Sellers(s) L Catterton Partners
Deal Type Add-on Acquisition

Target

98point6

Seattle, Washington, United States
98point6 is a virtual clinic provides primary care delivered by U.S. board-certified physicians who are empowered to diagnose, treat, prescribe, order labs and follow up with patients via our AI-powered, text-based mobile platform. 98point6 was founded in 2015 and is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Transcarent

Denver, Colorado, United States
Category Company
Founded 2020
Sector Internet Software and Services
DESCRIPTION

Transcarent is a health and care experience company that makes it easy for people to access high-quality, affordable care. Through an integrated mobile or web platform, Members can access EveryDay Care, for example, chat with a provider in less than 60 seconds, Pharmacy Care, CareHome (or close to it), Surgery Care, or receive additional support for complex care needs like cancer and behavioral health. Transcarent takes accountability for results – offering at-risk pricing models and transparent impact reporting to align incentives towards a measurably better experience, better health, and lower costs. Transcarent was founded in 2020 and is based in Denver, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1

Seller(S) 1

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 95 of 101
Sector (Healthcare Services) 6 of 6
Type (Add-on Acquisition) 44 of 45
State (Washington) 4 of 4
Country (United States) 70 of 75
Year (2023) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-02 A.P.C.

Paris, France

A.P.C. is an authentic French label accessible by design, price and outlook. Initially the label was popular for a very classic, raw denim jean, but now includes a full collection of clothing and accessories for men and women, which embodies an effortless cool. A.P.C. was founded in 1987 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-30 X2 Performance

Miami Gardens, Florida, United States

X2 Performance is a beverage and supplement compan. X2 Performance is based in Miami Gardens, Florida.

Sell -
Mergr

Product

Company

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