Aquiline Capital Partners Acquires Avel eCare (carve-out from Avera Health); Comvest Provides Senior Credit Facility
December 8, 2021
Aquiline Capital Partners completed the acquisition (carve-out) of Avel eCare from Avera Health, creating a standalone telemedicine company. Comvest Credit Partners acted as administrative agent providing a senior secured credit facility to support the transaction and Avel eCare's growth and expansion of virtual care services.
- Buyers
- Aquiline Capital Partners, Comvest Credit Partners
- Targets
- Avel eCare
- Sellers
- Avera Health
- Industry
- Healthcare Services
- Location
- South Dakota, United States
- Transaction Type
- Buyout
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Aquiline Capital Partners Completes Acquisition of Avel eCare from Avera Health
November 1, 2021
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Aquiline Capital Partners completed the ownership transition of Avel eCare (formerly Avera eCare) in a carve-out from Avera Health. Aquiline will partner with Avel eCare's leadership to scale the telemedicine provider’s clinical and technology services and expand its reach to underserved and rural communities across the United States.
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Avel eCare Acquires Amwell Psychiatric Care from Amwell
January 9, 2025
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Avel eCare has acquired Amwell Psychiatric Care (APC) from Amwell in an all-cash transaction worth approximately $21 million at closing plus an additional earn-out. The sale transfers APC technology, personnel and the affiliated Asana psychiatric clinical network to Avel as Amwell sharpens focus on its core digital care platform and strengthens its balance sheet. The acquisition expands Avel eCare's behavioral health capabilities and broadens its national telemedicine footprint.
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Avel eCare Acquires Fident Health
September 19, 2023
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Avel eCare, a clinician-to-clinician telemedicine provider based in Sioux Falls, South Dakota, has acquired Texas-based virtual hospitalist provider Fident Health. The acquisition expands Avel eCare's hospitalist and senior care telemedicine capabilities and clinical network to better serve rural and suburban hospitals and senior care facilities across the United States.
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Avel eCare Acquires Horizon Virtual
May 2, 2024
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Avel eCare, a Sioux Falls–based telemedicine provider, has acquired Minnesota-based Horizon Virtual, a virtual hospitalist services provider. The acquisition expands Avel's hospitalist capabilities and national telemedicine footprint by adding Horizon Virtual's hospitalist team and expertise to Avel's platform.
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Avel eCare Acquires Hospital Pharmacy Management, Inc.
December 23, 2024
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Avel eCare has acquired Hospital Pharmacy Management, Inc. (HPM) to strengthen and expand its remote pharmacy and onsite pharmacy management services. HPM — a Kansas-based provider that supports 51 hospitals across Kansas, Nebraska, Missouri and Texas — will join Avel's pharmacy offering to provide 24/7 medication order review, pharmacist-in-charge coverage, and other clinical pharmacy services to health systems.
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Avel eCare Acquires NightWatch Remote Pharmacy Services
January 10, 2023
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Sioux Falls-based telemedicine provider Avel eCare has acquired NightWatch, a West Virginia–based remote pharmacy services firm and subsidiary of Vaught, Inc. The acquisition expands Avel eCare’s pharmacy telemedicine capabilities and geographic reach across the Midwest and mid-Atlantic, enabling expanded after-hours hospital pharmacy coverage for hospitals, clinics and long-term care facilities.
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