US Fund GrowthCurve Buys Israeli MedTech Firm TailorMed for $250 Million
Translated & summarized from NEWSru Israel by baba
American private equity firm GrowthCurve is acquiring a controlling stake in Israeli digital health startup TailorMed for an estimated $250 million. TailorMed's platform assists U.S. patients with accessing medication and treatment by overcoming financial and bureaucratic barriers. The company has helped patients secure over $7.4 billion in financial aid since 2020. The acquisition aims to support TailorMed's growth, including AI integration and platform expansion.
The story in 6 lines · by baba
- GrowthCurve, an American private equity firm, is acquiring a controlling stake in Israeli digital health company TailorMed.
- The deal is valued by experts at approximately $250 million.
- TailorMed's platform helps U.S. patients overcome financial and bureaucratic obstacles to accessing medication and treatment.
- Since 2020, TailorMed has facilitated over $7.4 billion in financial assistance for patients.
- The acquisition is expected to drive TailorMed's growth, including AI integration and platform expansion.
- About 50 of TailorMed's 120 employees are based in Israel and will continue working post-acquisition.
American private equity firm GrowthCurve has acquired a controlling stake in Israeli digital health company TailorMed. While the companies have not disclosed the deal's value, experts estimate it at $250 million. Founded in 2018, TailorMed has developed a platform designed to help U.S. patients navigate financial and bureaucratic hurdles in accessing medications and continuing treatment. The company initially focused on identifying funding programs and matching patients with assistance sources. Over its operational history, TailorMed has raised approximately $60 million in investments and employs around 120 people, with about 50 based in Israel. These employees will continue their roles after the acquisition is finalized. According to the company, its network spans over 950 hospitals, more than 4,700 clinics, and over 3,100 pharmacies across the U.S. It also includes more than 100 pharmaceutical company programs and over 6,000 support programs, reaching more than 75 million patients. Since 2020, TailorMed has facilitated over $7.4 billion in financial assistance for patients, representing the volume of aid provided, not the company's revenue. The acquisition is intended to fuel the company's next growth phase, including platform expansion and the integration of artificial intelligence technologies. GrowthCurve focuses on mid-sized companies in technology, information services, healthcare, and financial services. For TailorMed, the deal could provide a foundation for expanding its solution offerings and pursuing new acquisitions, with GrowthCurve potentially acquiring and integrating other companies into the TailorMed platform. Previous investors in TailorMed include Israeli funds Triventures, Accelmed, Almeda Ventures, Bridges Israel, and Discount Capital, alongside the Citi Impact Fund and the American Cancer Society's venture arm, BrightEdge.