Swoop Announces Acquisition of MyHealthTeam
Deal News | Jan 08, 2025 | Ropes & Gray
Swoop, a portfolio company of New Mountain Capital, has successfully completed the acquisition of MyHealthTeam. This acquisition, announced on January 7, represents Swoop's commitment to enhance its precision healthcare offerings. MyHealthTeam is renowned for creating one of the largest patient social networks, catering to patients with over 62 specific chronic and rare conditions. This move is likely to position Swoop prominently in the healthcare technology arena by integrating AI-driven solutions with patient community support. Ropes & Gray, a law firm, represented Swoop in this transaction, with a diverse team of partners and associates specializing in various fields such as private equity, healthcare, life sciences, and data privacy, underscoring the transaction's complexity and strategic significance. While financial details remain undisclosed, the acquisition aligns with Swoop's mission to enhance consumer privacy and patient outcomes.
Sectors
- Healthcare Technology
- Private Equity
Geography
- United States – The entities involved, including Swoop and New Mountain Capital, are primarily based in the United States, influencing the domestic healthcare and technology sectors.
Industry
- Healthcare Technology – The article highlights Swoop's focus on precision healthcare solutions and the acquisition of MyHealthTeam, a patient social network, positioning them at the intersection of healthcare and technology.
- Private Equity – New Mountain Capital's involvement as the backing firm for Swoop illustrates the private equity sector's strategic role in enabling growth and acquisition activities.
Financials
- Undisclosed – The financial terms of the acquisition were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Swoop | Acquiring Company | Company | A leading provider of AI-driven precision healthcare omnichannel solutions. |
| MyHealthTeam | Target Company | Company | Creator of one of the largest patient social networks in healthcare, offering condition-specific communities. |
| New Mountain Capital | Private Equity Firm | Company | The private equity firm backing Swoop in its acquisition endeavors. |
| Ropes & Gray | Legal Advisor | Company | A law firm representing Swoop in its acquisition of MyHealthTeam. |
| Dee Kuchukulla | Private Equity Partner | Person | Leading the legal team representing Swoop. |
| Garrett Charon | Private Equity Partner | Person | A member of the legal team for Swoop. |
| Konrad Thallner | Private Equity Associate | Person | Aiding in the legal representation for Swoop. |