On September 16, Bambu Ventures announced that, alongside Innova Capital Partners, it was purchasing Lemonaid Health. The transaction is being done through a special purpose vehicle (SPV) where the two companies will be acquiring a 100% stake in Lemonaid Health.
The seller, 23andMe Holding Co., initially purchased Lemonaid Health in October 2021 for $400 million.
Founded in 2013, Lemonaid Health is a leading innovator in telemedicine and prescription drug delivery. The Lemonaid Health platform leverages clinical algorithms to augment its experienced medical providers’ knowledge base, enabling patients to quickly, safely and inexpensively get care and prescriptions for a variety of common medical conditions.
Bambu Ventures is a private equity and investment firm based in Los Angeles, California.
Based in Warsaw, Poland and founded in 1994, Innova Capital Partners is a private equity firm that develops unique opportunities across sectors where its investment expertise and operational capabilities create value. The firm invests at multiple stages of growth, building and supporting talented teams while scaling promising businesses worldwide.
BambuMeta Ventures acted as lead sponsor and guarantor of the transaction. eGateway Capital (Cincinnati, Ohio) acted as lead sponsors for the SPV, supported by Broadview Capital, Auctus Holding Ltd., Day Break Partners and others.
Goldenberg Heller & Antognoli P.C. served as legal counsel to the SPV. Collins Law Offices advised BambuMeta Ventures.
According to data captured in the LevinPro HC database, this transaction represents the 230th eHealth acquisition of 2025, and the 38th in the telehealth specialty. There were 42 telehealth transactions reported in 2024.
