On February 28, The Rise Fund, TPG’s multi-sector global impact investing strategy, announced the acquisition of Blue Cloud Pediatric Surgery Centers, an operator of pediatric dental ambulatory surgery centers (ASCs) dedicated to providing dental care to pediatric and special needs patients under general anesthesia. Financial terms of the transaction were not disclosed.
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals.
Blue Cloud Pediatric Surgery Centers is the largest operator of pediatric dental ambulatory surgery centers in the United States, with 15 facilities across six states serving more than 23,000 patients each year. Founded in 2011, Blue Cloud Pediatric Surgery Centers performs more pediatric dental surgeries per year than any other healthcare provider in the United States, primarily serving Medicaid and special needs patients. Blue Cloud’s mission is to expand access to safe dental surgery through its AAAHC accredited ASCs, mission driven clinical staff and focus on patient care.
“Our mission and values align closely with those of The Rise Fund and we are thrilled to partner with their team as we continue providing vital dental care to pediatric and special needs patients across the country,” said Devin Larsen, President and CEO of Blue Cloud. “As we continue to expand access to these essential services to more communities, Blue Cloud will benefit tremendously from TPG’s extensive experience partnering with leading healthcare delivery companies.”
The investment from The Rise Fund will support Blue Cloud’s expansion to meet the growing needs for dental procedures requiring anesthesia nationwide, particularly for those in lower income communities and within special needs populations.
Ensuring healthy lives and promoting well-being for all at all ages is one of the 17 UN Sustainable Development Goals, which guide The Rise Funds’ impact investing approach. Blue Cloud joins a number of other healthcare investments in the Rise portfolio that are working towards achieving this specific goal. Those investments include the Evercare Group, the leading healthcare delivery group in emerging markets with 30 hospitals, 16 clinics and 82 diagnostic centers across South Asia and Africa; Allogene, a clinical-stage biotechnology company developing allogeneic therapies for cancer; Reflexion, a breakthrough therapeutic oncology company; and Ceribell, a venture-backed medical device start-up that innovated the world’s first Rapid Response EEG system.
