West Palm Beach, Fla. – Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent on a senior secured credit facility (the “Financing”) to CheckedUp (the “Company”), a New York-based provider of digital healthcare solutions, to support the Company’s acquisition of Health Media Network (“HMN”), a Norwalk, Conn.-based provider of digital healthcare solutions and wellness content. The Financing will also be used to support the future growth of the combined platform. CheckedUp is a portfolio company of Rockbridge Growth Equity, a Michigan-based private equity firm focused on the middle market.
The acquisition brings together two of the leading companies in the digital point-of-care patient education space with complementary reach across a diverse group of medical specialties, hospital and healthcare systems, standalone care facilities, and companies nationwide.
“Comvest is pleased to leverage our deep healthcare industry expertise and knowledge of sector dynamics in structuring a significant needs-responsive credit facility to help fund CheckedUp’s acquisition of HMN. In addition, Comvest provided delayed draw commitments for the future growth of the business,” said Tom Goila, a Partner at Comvest and Co-Head of the Healthcare group.
“We are excited for the opportunity to work again with Rockbridge Growth Equity on a meaningful transaction involving a technology-focused portfolio company,” said Joe Higginbotham, a Principal at Comvest. “We look forward to continuing to build our relationship with the Rockbridge team and to supporting CheckedUp as the Company further scales its footprint, technologies and programming to reach an even wider set of healthcare professionals, caregivers and patients.”
CheckedUp is a physician-founded digital patient education company that actively engages patients, caregivers and physicians at the Point of Care, providing condition-specific, active patient engagement through a variety of digital touchpoints including TVs and interactive digital wallboards. For more information, visit www.checkedup.com.
About Rockbridge Growth Equity
Founded in 2007, Rockbridge Growth Equity is a middle market private equity firm committed to helping both founder-operated and established companies accelerate growth and build long-term, sustainable value. Rockbridge combines the flexibility of a financial sponsor with the benefits of strategic partnership by leveraging the firm’s relationship with the Rock Family of Companies, which provides access to industry and functional expertise. As of year-end 2021, Rockbridge has regulatory assets under management of over $1.2 billion across its target sectors: e-Commerce and Marketing Services, Financial Services and Fintech, Tech-Enabled Products and Services, and Digital Media. For more information, please visit www.rbequity.com.
About Comvest Credit Partners
Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $250 million-plus for companies with revenues greater than $20 million. For more information, please visit www.comvest.com/direct-lending.
About Comvest Partners
Comvest Partners is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $8.9 billion in assets, and has invested over $9.2 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.