NEW YORK, June 11, 2021 /PRNewswire/ — Health Enterprise Partners (“HEP”), a healthcare private equity firm, today announced that it has completed a significant recapitalization of its portfolio company AllyAlign Health (“AAH”) by an investment syndicate led by New Enterprise Associates, Inc. Terms of the transaction were not disclosed.
AllyAlign Health is a Medicare Advantage insurance company focused on improving the health and wellbeing of residents of senior housing communities. AAH is working to establish a healthcare ecosystem in senior housing that creates better outcomes and experience for senior housing residents, senior housing communities, physicians, and other caregivers. HEP partnered with Will Saunders, CEO of AllyAlign Health, at the company’s founding in 2014.
“This investment has been a prime example of HEP’s ability to proactively source an attractive investment opportunity and to help drive significant value creation throughout our investment period,” said Pete Tedesco, Managing Partner at HEP. “We are proud to have supported AllyAlign Health and its passionate team in building a truly unique care model that has improved health outcomes for senior housing residents across the country. We look forward to watching the company continue to transform the care of this vulnerable population in its next phase of growth.”
“HEP has been a tremendous partner to AllyAlign Health and our team,” commented Will Saunders, founder and CEO of AllyAlign Health. “Their insight, guidance, and connections have been vital in every step of our journey. We look forward to significantly scaling our unique model across the skilled nursing and senior housing ecosystem as we emerge from the pandemic.”
About Health Enterprise Partners
Health Enterprise Partners provides expansion capital to the most innovative healthcare services and healthcare information technology companies. Central to HEP’s strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP’s funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of healthcare.
For more information, please visit www.hepfund.com.
About AllyAlign Health
AllyAlign Health began working to improve the long-term-care ecosystem in 2014 by helping leading long-term care providers find success with value-based care models for their vulnerable senior populations. Today AAH manages Medicare Advantage institutional special needs plans, chronic care special needs plans for dementia, and dual-eligible special needs plans to reduce healthcare costs and improve patient quality of life. Founded by Will Saunders in Richmond, Virginia, the innovative turnkey solutions and propriety technology power health plans across the U.S. Learn more at www.allyalign.com or reach out by emailing AAH at [email protected].
SOURCE Health Enterprise Partners