Global private equity firm CVC Capital Partners (CVC) has acquired a majority interest in Health action company Icario, through the CVC Growth Partners II fund.
Financial terms of the investment, which will be used to fuel Icario’s next phase of growth, have not been disclosed.
Having rebranded earlier this year following the merger of market leaders Revel and NovuHealth, CVC will now help Icario accelerate its business roadmap as it continues to build innovative solutions for its customers, which include many of the most trusted health plans in the United States.
“Icario’s proprietary technology, data science, and behavioural insights drive highly valuable actions,” says Aaron Dupuis, partner at CVC Growth Partners. “We have followed the Icario story for some time as part of our long-standing efforts in member engagement, and we look forward to working with the Icario team to accelerate initiatives to bring even more member engagement innovation to Icario’s impressive customer base of more than 50 leading healthcare payers.”
