March 19, 2019
LLR Partners has completed a growth recapitalization of CareATC, Inc., a technology-driven employee population health management company. The partnership with LLR Partners will support the continued growth of CareATC’s employer-sponsored clinic network and further investment in the Company’s market leading, proprietary population health technology platform.
“Employers are contending with skyrocketing costs of providing healthcare to their employees. At the same time, they’re seeing a decline in the quality and effectiveness of the traditional primary care model,” said Sasank Aleti, Principal at LLR Partners. “Through robust, easy-to-use technology and high-quality clinical care, CareATC is making primary care more engaging, convenient and personalized, while helping employers achieve superior health outcomes and significantly lower healthcare costs. We’re excited to partner with the strong team at CareATC and invest in the Company’s continued growth.”
Corporations, labor unions and state and local governments across the U.S. rely on CareATC’s shared-site and onsite clinics to provide primary care, preventative health screenings, disease management, referral management and wellness for their employees, helping to improve health outcomes and lower the cost of care. The Company’s purpose-built, proprietary technology platform also delivers analytics to improve clinical decision-making, drive more engaging patient experiences, and give employers better insights into the overall health and wellness of their employee populations.
“CareATC enables employers to deliver accessible and comprehensive primary care, lifestyle coaching and other ancillary healthcare services at little to no cost to their employees with a focus on addressing risk and preventing disease, resulting in a strong return on investment based on improved clinical outcomes,” said Philip Kurtz, CEO of CareATC. “LLR’s experience with employer-based healthcare and technology will help us empower more businesses with the clinical and technology resources they need to inspire healthier, happier employees while reducing healthcare spend.”
Canaccord Genuity LLC acted as exclusive financial advisor to CareATC. PrayWalker served as legal counsel to CareATC. Morgan Lewis & Bockius LLP served as legal counsel to LLR Partners.