UpHealth Sells Cloudbreak Well being Enterprise to GTCR for $180M

What You Ought to Know:

UpHealth, Inc. has entered right into a definitive settlement to promote its wholly-owned subsidiary, Cloudbreak Health, LLC, to non-public fairness agency GTCR for $180 million in money.

The sale will enable UpHealth to scale back its debt and give attention to its rising behavioral well being enterprise, TTC Healthcare. The sale is predicted to shut within the first half of 2024.

CloudBreak Well being Background

Cloudbreak Well being, identified for its Martti translation providing, offers telehealth and video distant interpretation options. Martti, brief for “My Accessible Actual-Time Trusted Interpreter,” delivers medical interpreters in over 250 languages via customized Martti units, together with tablets and smartphones. Cloudbreak, a key a part of UpHealth’s Digital Care Infrastructure phase, has skilled strategic enlargement and development, doubling income within the final three years and enhancing the customer support expertise.

Give attention to TTC Healthcare

GTCR will purchase full fairness possession of Cloudbreak, together with the mixture Cloudbreak worker base. UpHealth’s CEO, Martin Beck, mentioned that the sale will enable the corporate to “sharpen its give attention to TTC Healthcare, a worthwhile and cash-generating behavioral well being enterprise, as a development platform.”