CVC Capital Partners has agreed to acquire a majority stake in Icario, a health action company. No financial terms were disclosed.
MINNEAPOLIS, May 4, 2021 — Icario, the healthcare industry’s leading health action company, is pleased to announce that CVC Capital Partners (“CVC”), a leading global private equity firm, has acquired a majority interest in the company through the CVC Growth Partners II fund as outlined further below and in the attached release. The investment will be used to fuel Icario’s next phase of growth; financial terms were not disclosed.
The news comes at an exciting time for Icario, which rebranded earlier this year following the merger of market leaders Revel and NovuHealth. CVC will 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 behavioral insights drive highly valuable actions,” said 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.”