Investment Summary

True North Co. and BDC Capital Invest In PurposeMed

On March 4, 2025, private equity firm True North Co. and growth capital firm BDC Capital invested in healthcare services company PurposeMed

Investment Highlights
  • This is True North Co.’s 6th and BDC Capital’s 3rd transaction in the Healthcare Services sector.
  • This is True North Co.’s 1st and BDC Capital’s 32nd transaction in Canada.
  • This is True North Co.’s 1st and BDC Capital’s 3rd transaction in Alberta.

Investment Summary

Date 2025-03-04
Target PurposeMed
Sector Healthcare Services
Investor(s) True North Co.
BDC Capital
Deal Type Growth Capital

Target

PurposeMed

Calgary, Alberta, Canada
PurposeMed is a high-growth telehealth company that provides accessible and specialized healthcare services, focusing on underserved populations across Canada and the United States. PurposeMed was founded in 2019 and is based in Calgary, Alberta.

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Investor(S) 2

Investor

True North Co.

Mumbai, India

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

True North Co. is a private equity firm focused on making investments in growing middle-market companies operating in India. The Firm looks to invest a minimum of $50 million per transaction. Sectors of interest include consumer, healthcare, financial services, infrastructure services, and IT. True North does not invest in start-ups or early-stage companies. True North Co. was formed in 1999 and is headquartered in Mumbai.


DEAL STATS #
Overall 43 of 43
Sector: Healthcare Services M&A 6 of 6
Type: Growth Capital M&A Deals 3 of 3
State: Alberta M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 HiCare

Mumbai, India

Hicare is a pest control services provider, operating across the country through 52 branches in 27 cities. It serves over one lakh residential customers and 10,000 commercial customers with major network of franchise partners. HiCare was founded in 1993 and is based in Mumbai, Maharashtra.

Sell -
DESCRIPTION

BDC Capital is the direct investment arm of financial services firm BDC. BDC Capital looks to invest in and provide financing to venture and growth-stage Canadian companies. The Firm's growth-stage investment unit looks to commit $3 to $35 million for minority positions in mid-market companies focused on growth. The Group does not have any sector preferences but does prefer to invest in profitable companies. BDC Capital is headquartered in Montreal.


DEAL STATS #
Overall 34 of 35
Sector: Healthcare Services M&A 3 of 3
Type: Growth Capital M&A Deals 21 of 22
State: Alberta M&A 3 of 3
Country: Canada M&A 32 of 33
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-13 Kroon Electric

Ottawa, Ontario, Canada

Kroon Electric provides comprehensive electrical solutions to the private and public sectors on all sizes of electrical projects and preventative maintenance services. Kroon Electric is based in Ottawa, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-22 PMC

Moncton, New Brunswick, Canada

PMC specializes in the design, installation, retrofitting, and maintenance of Building Automation Systems (BAS), HVAC systems, and optimizing the energy use in buildings. The company serves a broad base of long-standing commercial, institutional, and industrial clients across Atlantic Canada, with a strong focus on recurring maintenance and service contracts. PMC was formed in 2008 and is based in Moncton, New Brunswick.

Buy -