Revelstoke Capital Partners, a Denver-based private equity firm focused on investing in healthcare services companies, announced that it has invested in ClareMedica Health Partners, LLC, a Florida-based leader in value-based primary care serving Medicare Advantage members.
Revelstoke Capital Partners is a private equity firm specializing in the healthcare and business services sectors. Revelstoke is based in Denver, Colorado and has approximately $4.3 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 142 acquisitions, which includes 25 platform companies and 117 acquisitions.
ClareMedica is a growing health care company that provides and coordinates comprehensive health care services for Medicare Advantage members and other customers through a network of employed and affiliated physicians. It is primarily owned by BPOC, a Chicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation’s most experienced investors in the industry having raised five funds with total capital commitments of nearly $1.8 billion.
This partnership will accelerate ClareMedica’s growth and aid the Company in expanding its BetterCare℠ model into new markets. ClareMedica will continue to be led by CEO Roberto Palenzuela and the current management team. BPOC, a Chicago-based healthcare investor, which has been an investor in ClareMedica since 2019, will retain equity ownership. SVB Leerink acted as financial advisor and McGuireWoods LLP acted as legal counsel to Revelstoke. Houlihan Lokey acted as financial advisor and Kirkland & Ellis LLP and McDermott Will & Emery LLP acted as legal counsel to ClareMedica and BPOC. Terms of the transaction were not disclosed.
This is the fourth primary care physician medical group acquisition of 2022. Kinderhook Industries, LLC acquired Physician Partners, LLC, which is another private equity firm to invest in primary care groups. Additionally, Munson Healthcare acquired Little Traverse Primary and Circulo, Inc. acquired Huddle Health. In 2022, there have been a total of 104 physician medical group acquisitions, covering all forms of care ranging from optometry to dental.
