Paladina Health embarked on a big expansion last week. The company acquired Healthstat, a leading provider of onsite and virtual primary care, health-risk intervention, chronic care management and occupational medicine in employer facilities. Paladina Health provides direct primary care services to employers and individuals. It is a portfolio company of New Enterprise Associates and is also backed by Oak HC/FT, Alta Partners and Greenspring Associates. DaVita Inc. (NYSE: DVA) sold Paladina Health to New Enterprise Associates in June 2018 for an estimated $100 million, according to reporting from CNBC.
The Heathstat acquisition will add more than 230 clinics in 13 additional states, including in the Southeast, a new market for Paladina. After the acquisition is complete, Paladina Health will operate 350 clinics and remain the nation’s second-largest direct primary care provider. Healthstat also has a partnership with Johns Hopkins HealthCare Solutions to integrate its evidence-based disease management and behavior assessment programs into its network of employee health clinics.
This is Paladina Health’s second acquisition in two years, according to results from the HealthCareMandA.com Deal Database. In January 2019, the company acquired Activate Healthcare, which provides customized services to employers and unions for preventive and primary medical care. It offers an alternative care delivery model that is patient-centric and value-based.
Healthstat, for its part, also made some new deals this year. In early March, the company purchased 20 employer-sponsored health centers from SentryHealth for an undisclosed sum. The deal expands Healthstat’s national footprint to 250 locations, which most likely made the company a much more attractive buy for Paladina Health.