Through a major recapitalization investment round, Ponte Vedra Beach-based ReviveHealth, a subscription-based health care provider, announced Tuesday it had acquired a virtual care services company for an undisclosed amount.
The acquisition of Pennsylvania-based SwiftMD by ReviveHealth was facilitated by Eir Partners, a Miami-based private equity firm that invests in high growth health care companies. Eir Partners took a majority interest in ReviveHealth as a part of the transaction.
“The Eir Partners team brings expertise in the digital health care market," said Howard Buff, ReviveHealth's executive chairman. "Through our partnership, ReviveHealth is in a strong position to innovate, scale, and create lasting transformative value.
The acquisition and recapitalization follows two acquisitions in August of iSelectMD and ManifestRX as well as closing a $1.1 million investment round in July, according to records at Crunchbase.
“Adding SwiftMD’s infrastructure and provider network to the ReviveHealth platform expands our membership to over 1,000,000 nationwide,” ReviveHealth CEO Jeff Bernhard said. “We are excited to bring SwiftMD into the ReviveHealth portfolio as we pursue our shared vision of providing access to an exceptional quality of care at the most competitive cost in the market.”
ReviveHealth specializes in subscription solutions that aim to provide employees and consumers everyday care, including primary and urgent care, mental health therapy, physical therapy and pharmacy benefits, among others. Eir has completed or partnered on over $5 billion in health care technology transactions since inception in 2015 and has been involved in large scale health tech companies including Claimlogiq, Capta Health Partners, CloudMed, Equian, Millennia, Convey, Signify and others.
