Deals & Dealmakers: Two Reliam Deals in Two Weeks

0
Deals & Dealmakers: Two Reliam Deals in Two Weeks
Reliam HQ: Company’s home base at 6033 W. Century Blvd.

South Bay-based cloud computing service provider Reliam announced May 23 the acquisition of Boston-based G2 Tech Group for an undisclosed sum.

The deal is the second purchase for Reliam in the last month and comes after Great Hill Partners, a Boston private equity firm, ponied up $75 million in November to finance acquisitions. Reliam said in a statement that it would be rebranding later this year to incorporate G2 Tech and Stratalux, another South Bay web services firm Reliam said it acquired in April.

A spokesman for Reliam said terms of the deals were not disclosed, and that he was unsure how much of Great Hill’s $75 million investment remained after the two deals.

Reliam, G2 Tech and Stratalux all do contract work related to the Amazon.com Inc.’s Amazon Web Services (AWS) cloud platform, with Reliam also working on Microsoft Corp.’s Azure platforms. Reliam Chief Executive Simon Anderson said in a statement that the addition of G2 Tech to the company along with Stratalux would propel the company forward.

“In G2 Tech Group, we saw a compelling opportunity to join forces with one of the most respected AWS partners in the Northeast, and a cloud services provider with AWS-recognized expertise in areas complementary to our own,” Anderson said. “Additionally, we were drawn to G2 as an exceptionally strong cultural match, from its tremendous reputation for customer engagement and success, to the way it has closely aligned itself with AWS leadership. I couldn’t be more excited about the company we’re now building together through Reliam, Stratalux, and G2.”

Get Heal Gets Real

Get Heal Inc., a Century City-based company that arranges for physician house calls at the touch of a mobile app, announced a $20 million funding round from investors, executives said May 22

The three-year-old startup said the closure of its series C funding round brings the capital raised to date to more than $69 million.

“Over the last three years, we’ve re-established unhurried, relationship-based house calls as a gateway for cost controls and improved outcomes throughout the health care industry,” said Renee Dua, its co-founder and chief medical officer, said in a statement.

“Now it’s time to realize the full potential of Heal to truly reboot the U.S. health care system for patients, providers and payers.”

The latest investments come from Bascom Ventures, Inflection Capital, IRA Capital, RLJ Equity Partners and Trans-Pacific Technology Fund.

The company said it will use the new capital to pursue new markets, explore new business models and advance technology.

Heal has delivered more than 60,000 doctor house calls since its launch in March of 2015. The visits are paid for by all major PPO insurance plans in California, at a cost savings of more than $41 million over traditional care, the company claims.

The company claims its service helps improve health care results, citing on-demand home doctor visits that last up to 28 minutes – compared to a national average of 13 minutes to see a doctor.

Marlin Lands Big Fish

Marlin Equity Partners announced May 22 the acquisition of Virgin Pulse Inc. and RedBrick Health Corp. and plans to merge the two companies into what the Hermosa Beach-based private equity firm claims will be the world’s largest digital health company. Marlin did not disclose terms of the deal.

Virgin Pulse was acquired from Richard Branson’s Virgin Group. It designs technology that the company claims helps cultivates good lifestyle habits, delivering it to clients employees via “gamification” in some instances.

Red Brick Health uses advanced behavior science and adaptive technology inspire “people to be fully engaged in life and at work,” the company says.

“Our investment, which brings together two leaders in the health and wellbeing market, underscores our strong belief in the potential to transform this highly fragmented industry,” said Michael Anderson, a managing director for the 13-year-old firm. “This is a multibillion-dollar market that is hungry for innovation, desperate for disruption and ripe for consolidation.”

Virgin Pulse, founded in 2004, based in Providence, R.I., will merge with RedBrick Health, founded in 2006, based in Minneapolis. They will unite under the Virgin Pulse name, but operate as separate brands.

Together, they will have one of the largest global employer customer bases in the industry, according to Marlin Equity.

Have a deal tip? Henry Meier can be reach at [email protected] or at (323) 556-8321.

No posts to display