Rockbridge Growth Equity Completes Sale of CheckedUp to Providence Equity Partners
Rockbridge Growth Equity Completes Sale of CheckedUp to Providence Equity Partners
In a strategic move to bolster its portfolio, Rockbridge Growth Equity has officially announced the sale of CheckedUp, a prominent specialty point-of-care education and engagement platform, to Providence Equity Partners. This development marks a significant transition for CheckedUp, paving the way for its continued growth in the healthcare media landscape.
Founded in 2012, CheckedUp specializes in creating a bridge among patients, healthcare providers, and life sciences companies, delivering essential educational content through an innovative digital network that utilizes waiting-room televisions and interactive exam-room wallboards. The platform is distinguished for its ability to connect clinical environments and offer tailored educational resources aligned with various healthcare needs.
Under Rockbridge's stewardship beginning in December 2021, CheckedUp experienced substantial growth. Rockbridge's strategic involvement catalyzed market expansion through capital deployment, acquisitions, and investment in technology infrastructure. A pivotal moment in this journey was CheckedUp's acquisition of Health Media Network (HMN) in October 2022, which effectively transformed CheckedUp into a unified digital ecosystem that serves numerous high-value specialty healthcare sectors. Currently, CheckedUp reaches over 17,000 specialty healthcare providers and collaborates with a majority of the top 40 pharmaceutical manufacturers, evidencing its robust market presence.
Brian Hermelin, Managing Partner and Co-Founder of Rockbridge, commented on the successful partnership with CheckedUp's management team, stating, “By combining strategic capital, digital expansion, and the transformative acquisition of Health Media Network, we scaled CheckedUp into a differentiated specialty point-of-care network. We are proud to have supported CheckedUp through this phase of growth and expansion, and we believe Providence and Varsity are ideal partners to support the company in its next chapter.”
The terms surrounding the transaction have not been disclosed, however, it is anticipated that the deal will finalize within the third quarter of 2026, pending standard closing conditions. The deal was advised by financial consultant Moelis & Company LLC, with legal representatives from Greenberg Traurig and Honigman for CheckedUp, while Providence and Varsity received legal counsel from Debevoise & Plimpton and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo respectively.
About CheckedUp
CheckedUp is recognized as a vital healthcare media entity that is committed to the specialty point of care, delivering clinically relevant content to patients, providers, and life science teams. Centered around the unique challenges and requirements of healthcare, CheckedUp melds technology with clinical relevance to ensure meaningful engagement where healthcare decisions occur. This foundation, coupled with Providence's vast expertise in media and technology, situates CheckedUp to further transform point-of-care into a more strategic and accountable media channel within the healthcare sector.
About Rockbridge Growth Equity
Established in 2007, Rockbridge Growth Equity operates as a middle-market private equity firm dedicated to fostering sustainable growth and value in both founder-operated and established enterprises. Rockbridge leverages its strategic partnerships, particularly with the Rock Family of Companies, to provide tailored guidance and infrastructure to facilitate growth across its focus areas, which encompass e-commerce, financial services, tech-enabled products, and digital media. With over $1.8 billion in assets, Rockbridge is positioned at the forefront of private equity investing within its target sectors.
In summary, the transition of CheckedUp under Providence's umbrella signifies an exciting new chapter for the innovative healthcare media platform, one that promises to enhance patient engagement and expand the reach of healthcare education. The partnership with Varsity Healthcare Partners will also introduce strategic minority investment, ensuring a dynamic approach to future growth initiatives.
Topics Health）
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