GTCR to Acquire Cloudbreak Health

Leading Video-Focused Language Interpretation Service Provider to Become Independent Company GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire Cloudbreak Health, LLC, a leading provider of tech-enabled, healthcare-focused language interpretation services, in a corporate carve-out transaction from UpHealth, Inc. Under the terms of the agreement, the purchase price is $180 million, and the transaction is expected to close in the first quarter of 2024 following the receipt of customary regulatory and stockholder approvals and closing conditions. Headquartered in Columbus, OH, Cloudbreak is a leading video-focused language interpretation service provider that helps patients with limited English proficiency communicate with caregivers in healthcare settings. The Company’s core offering is Martti™ (My Accessible Real-Time Trusted Interpreter), a HIPAA-compliant Video Remote Interpretation (VRI) solution that connects patients with interpreters in over 250 languages across its network of more than 1,000 interpreters. Cloudbreak serves clinicians and patients across all types of healthcare settings, including hospitals, urgent care centers, standalone clinics, and medical practices, and helps improve health equity across an underserved U.S. patient population. The transaction will strengthen Cloudbreak’s leading position as a high-quality provider of interpretive telehealth services in a growing end market. GTCR ...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Andy Panos CloudBreak Cloudbreak Health Geoffrey Tresley GTCR Health IT Acquisitions Healthcare M&A Kirkland & Ellis LLP Mark Anderson Martti Monroe and Barings My Accessible Real-Time Trusted Inte Source Type: blogs