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Healthcare Providers Quarterly

Q3 2020 UPDATE

Headline Transactions

WALLGREENS PARTNERS WITH VILLAGEMD WITH $1B INVESTMENT

July 9, 2020: Walgreens plans to open up to 700 primary care clinics across the country over the next five years in partnership with medical services provider VillageMD , and "hundreds more" after that in a partnership that values VillageMD at about $3.3 billion, according to SVB Leerink . As part of the agreement, Walgreens will invest $1 billion in equity and convertible debt in Chicago based VillageMD over the next three years, including a $250 million equity investment Wednesday. VillageMD will use 80% of the funds to pay for opening the clinics, called Village Medical at Walgreens, and integrate digitally with Walgreens.

CAREGIVER RECAPS WINDROSE HEALTH INVESTORS IN $200M DEAL

July 27, 2020: Caregiver Inc., a leading provider of long term care services and supports to people with intellectual and developmental disabilities, announced today that it closed on a recapitalization with WindRose Health Investors, LLC, a New York based healthcare private equity firm in a deal worth $200 million. WindRose partnered with Caregiver’s executive team to recapitalize the business and provide additional capital to support future growth. With WindRose’s investment, Caregiver will be able to expand into new markets across the United States and increase its market share within existing markets to provide its high quality care to more clients.

MERRILL GARDEN ACQUIRES TWO SENIOR LIVING COMMUNITIES FOR $112M

September 22, 2020: Merrill Gardens, LLC acquired two senior living communities in San Jose and Gilroy for $112 million.

LYRA HEALTH ANNOUNCES $110M SERIES D RAISE

August 25, 2020: Lyra Health, a leading provider of mental health care benefits for employers, today announced a Series D financing round of $110 million. Addition led the round and was joined by Adams Street Partners and existing investors, including Starbucks chairman emeritus and former CEO Howard Schultz, Casdin Capital, Glynn Capital, Greylock, IVP, Meritech Capital Partners, Providence Ventures, and Tenaya Capital. This financing enables Lyra to invest more aggressively in innovative, tech enabled mental health treatments; to partner with more customers; and to expand and diversify its high quality provider network.

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