Private equity firm H.I.G. Capital completes the sale of SoldierPoint to GovCIO, providing additional funding for SoldierPoint's expansion.

H.I.G. Capital Sells SoldierPoint Digital Health to GovCIO

In a significant move, H.I.G. Capital has completed the sale of SoldierPoint Digital Health, a division of Iron Bow Technologies. The buyer is GovCIO, a company owned by Welsh, Carson, Anderson & Stowe.

Through its partnership with Iron Bow Technologies, H.I.G. was able to generate a superior outcome for SoldierPoint Digital Health and its stakeholders. Under H.I.G.'s ownership, SoldierPoint more than doubled its earnings, transforming from a hardware-based VA telehealth programme into a services-led digital health platform.

Jeff Zanarini, Managing Director at H.I.G., mentioned that strategic investments were made to expand SoldierPoint's role in delivering digital health and telemedicine services to the VA. These investments proved fruitful, as SoldierPoint Digital Health now provides advanced digital care solutions to over 2.7 million veterans through the U.S. Department of Veterans Affairs (VA).

The sale positions Iron Bow to accelerate efforts within its core IT solutions business. Rene LaVigne, CEO of Iron Bow Technologies, stated that the transaction reflects the successful partnership between Iron Bow and H.I.G.

GovCIO, the new owner, strengthens its digital health capabilities to support the U.S. Department of Veterans Affairs (VA) and its veteran population. The divestiture of SoldierPoint Digital Health allows Iron Bow Technologies to focus on expanding its IT solutions business.

Advisors for the transaction included Jefferies as financial advisor and McDermott Will & Emery as legal counsel. Jonathan Fox, Managing Director at H.I.G., stated that SoldierPoint's success is a testament to the strength of the management team and H.I.G.'s ability to support long-term strategic growth. The sale of SoldierPoint Digital Health is a testament to the strength of the partnership between Iron Bow Technologies and H.I.G. Capital.

The successful partnership between Iron Bow Technologies and H.I.G. Capital is further reflected in the transaction. The sale of SoldierPoint Digital Health does not affect Iron Bow's core IT solutions business, which is now positioned to accelerate efforts in this area.

In conclusion, the sale of SoldierPoint Digital Health marks a significant milestone in the partnership between Iron Bow Technologies and H.I.G. Capital. The sale positions both companies for continued growth and success in their respective areas of focus.

Private equity firm H.I.G. Capital completes the sale of SoldierPoint to GovCIO, providing additional funding for SoldierPoint's expansion.