Ropes & Gray advised Aquiline Capital Partners in its acquisition of Avera Health. The transaction was announced on July 28. Terms of the transaction were not disclosed. As part of the acquisition, Aquiline will execute the carve-out of Avera eCare and rename the company Avel eCare. Closing is expected in the fourth quarter of 2021.The press release is here.
Avel eCare offers one of the largest and most comprehensive virtual health networks in the world by partnering with more than 600 health care systems, rural hospitals, outpatient clinics, long-term care facilities, assisted livings, and schools across the United States. Aquiline Capital Partners is a private investment firm based in New York and London with $6.4 billion in assets under management.
The Ropes & Gray team that advised Aquiline Capital Partners was led by private equity partner Carolyn Vardi (New York), and included health care partner Christina Bergeron (Boston), finance partner Andrea Hwang (New York), employment, executive compensation & benefits partner Loretta Richard (Boston), tax counsel Alyssa Kollmeyer (Boston), data, privacy & cybersecurity partner Kevin Angle (Boston), litigation & enforcement counsel Steven Kaye (Boston) and private equity associate Samuel Levitt (New York).
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