US private equity firm GrowthCurve announced it will acquire control of Israeli startup TailorMed. The companies did not disclose the amount, and according to market estimates cited by Geektime, the deal reflects a valuation of up to $250 million. Most existing shareholders are expected to sell their holdings as part of it.
TailorMed's platform connects to care providers' systems, scans the data and automatically finds assistance and funding programs that can help patients afford their medication. According to the company, it is deployed in more than 950 hospitals, thousands of clinics and about 3,100 pharmacies in the US, has reached more than 75 million patients and has helped secure more than $7.4 billion in assistance since 2020.
TailorMed was founded in 2017 by two Israeli co-founders and has raised about $60 million to date. According to PitchBook, its investors include Bank Hapoalim, Samsung Next and Philips. No closing date for the deal was announced.