CuraLinc Healthcare Acquires Wellspring EAP
Deal News | Dec 05, 2024 | Lightyear Capital
CuraLinc Healthcare, supported by its primary investor Lightyear Capital, has acquired Wellspring Family Services' employee assistance program (EAP). The acquisition, announced on December 5, 2024, is set to enhance access to mental health and wellbeing resources across the United States. CuraLinc aims to build on Wellspring's strong community-focused support, providing innovative mental health solutions both online and in-person. This acquisition will allow Wellspring to focus on its core mission of fighting family homelessness in the Pacific Northwest while continuing to support its former EAP clients. CuraLinc, combining technology and personalized advocacy, plans to offer a range of mental health services to existing clients, ensuring a seamless transition and expanded holistic support.
Sectors
- Healthcare
- Private Equity
- Nonprofit
Geography
- United States – The acquisition impacts the nationwide availability of mental health services through CuraLinc's expanded offerings.
- Pacific Northwest – Wellspring Family Services, based in Seattle, focuses its continued efforts in this region following the acquisition.
Industry
- Healthcare – The article deals with CuraLinc Healthcare's acquisition in the mental health sector, highlighting its commitment to transformative care.
- Private Equity – Lightyear Capital, a private equity firm, is involved in financing the acquisition, demonstrating its role in corporate expansions.
- Nonprofit – Wellspring Family Services is a nonprofit organization focused on preventing and ending family homelessness, relevant to their role prior to the acquisition.
Financials
- $5.0 billion – Assets under management by Lightyear Capital as of December 31, 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CuraLinc Healthcare | Acquirer | Company | Provider of mental health care solutions, focused on connectivity and personalized advocacy. |
| Wellspring Family Services | Target Company | Company | Seattle-based nonprofit aiming to prevent and end family homelessness. |
| Lightyear Capital | Investor | Company | Private equity firm supporting CuraLinc's acquisition and expansion efforts. |