Allara Health Secures $26M in Series B Funding
Deal News | Jan 30, 2025 | TT Capital Partners LLC
This week's article in Healthcare M&A Weekly provides an overview of recent mergers, acquisitions, and investments in the healthcare sector, highlighting how the integration of technology and services is driving innovation and transformation. Featured transactions include Allara Health's $26M Series B investment led by Index Ventures, AMSURG's acquisition of an interest in Texarkana Surgery Center, and BrightSpring Health Services' divestment of ResCare Community Living to Sevita for $835M. Other significant moves include DirectMed Imaging's acquisition of Richardson Healthcares operations, and InTandem Capital Partners' investment in Healthfuse, with TripleTree acting as financial advisor. Additional noteworthy transactions are Iris Telehealth's acquisition of innovaTel, Levine Leichtman Capital Partners' purchase of SYNERGY HomeCare Franchising from NexPhase Capital, and Patterson Companies' agreement to be acquired by Patient Square for approximately $4.1B. The strategic partnership between Formula Wellness and Bella Excellence, alongside PinkDx's Series A funding close and SightMD's acquisition of Sambursky Eye & Esthetics, further emphasize the ongoing activity and transformative potential in the healthcare industry.
Sectors
- Healthcare
- Private Equity
Geography
- United States – The majority of the companies and transactions mentioned are based in or occur within the United States, indicating the country as a key geography for this article.
Industry
- Healthcare – The article is focused on the healthcare industry, covering various transactions of companies engaged in healthcare services, technology, and auxiliary services.
- Private Equity – The article references several private equity firms involved in healthcare transactions, highlighting their role in shaping the industry's landscape.
Financials
- $26M – Series B funding received by Allara Health.
- $835M – Amount for which BrightSpring Health Services is divesting ResCare Community Living to Sevita.
- $4.1B – Approximate acquisition price for Patterson Companies, Inc. by Patient Square.
- $5M – Additional funding raised by PinkDx in Series A round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Allara Health | Target Company | Company | A virtual health platform that secured a $26M Series B investment. |
| Index Ventures | Investor | Company | Led the Series B funding round for Allara Health. |
| AMSURG | Acquirer | Company | Acquired an ownership interest in Texarkana Surgery Center. |
| BrightSpring Health Services | Selling Company | Company | Divested ResCare Community Living to Sevita. |
| Sevita | Acquirer | Company | Acquired ResCare Community Living from BrightSpring for $835M. |
| DirectMed Imaging | Acquirer | Company | Acquired Richardson Healthcare's Fort Mill, SC operation. |
| Levine Leichtman Capital Partners | Acquirer | Company | Partnered with management to acquire SYNERGY HomeCare Franchising from NexPhase Capital. |
| Patient Square | Acquirer | Company | Set to acquire Patterson Companies, Inc. for approximately $4.1B. |
| Formula Wellness | Participant in Partnership | Company | Announced a strategic partnership with Bella Excellence. |
| InTandem Capital Partners | Investor | Company | Completed an equity investment in Healthfuse. |
| TripleTree | Financial Advisor | Company | Served as exclusive financial advisor to InTandem Capital Partners. |
| Iris Telehealth | Acquirer | Company | Acquired innovaTel from Quartet Health. |
| Concord Health Partners | Investor | Company | Backed Iris Telehealth. |
| Columbia Pacific Advisors | Investor | Company | Backed Iris Telehealth. |
| Patterson Companies, Inc. | Target Company | Company | Dental and animal health distributor about to be acquired by Patient Square. |
| PinkDx | Target Company | Company | Raised additional $5M in Series A round. |
| SightMD | Acquirer | Company | Acquired Sambursky Eye & Esthetics. |