Comvest Credit Partners Invests in Digital Healthcare Firm CheckedUp

Comvest Credit Partners has invested in digital healthcare solutions provider CheckedUp.

The direct lending platform said in a Friday (Dec. 2) press release that it acted as an administrative agent on a senior secured credit facility to support CheckedUp’s acquisition of digital healthcare solutions and wellness content provider Health Media Network (HMN).

The financing will also be used to support the combined platform’s future growth, according to the press release.

“Comvest is pleased to leverage our deep healthcare industry expertise and knowledge of sector dynamics in structuring a significant needs-based credit facility to help fund CheckedUp’s acquisition of HMN,” Tom Goila, a partner at Comvest and co-head of the healthcare group, said in the release. “In addition, Comvest provided delayed draw commitments for the future growth of the business.”

CheckedUp and HMN are two of the leading companies delivering digital point-of-care patient education, and they have complementary reach across medical specialties, hospital and healthcare systems, standalone care facilities and companies nationwide, according to the press release.

CheckedUp is a portfolio company of middle market-focused private equity firm Rockbridge Growth Equity, the release said.

“We are excited for the opportunity to work again with Rockbridge Growth Equity on a meaningful transaction involving a technology-focused portfolio company,” Comvest Principal Joe Higginbotham said in the release. “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.”

PYMNTS research has found that 38% of patients in the United States use digital healthcare options to receive remote counseling, telemedicine or both.

In May 2022, 26% of patients sought out both telemedicine and remote counseling services, 8% used telemedicine options exclusively and 4% used remote counseling exclusively, according to “The ConnectedEconomy: The Trend Toward Digital Healthcare,” a PYMNTS and CareCredit collaboration.