H.I.G. Growth completes significant growth investment in Carebox

Carebox Healthcare Solutions

Carebox connects patients and physicians seeking treatment options with clinical trials. For patients and families, access to information about the newest and most advanced treatment options is obscured and frustrating to find. For pharma companies, clinical trial recruitment is the primary bottleneck in the more than $100B drug development market now being reshaped by precision medicine treatment specificity, new trial models, diversity requirements and digital health consumer expectations. Carebox is at the forefront of addressing these challenges for patients and their families, as well as for the ecosystem of companies involved in sponsoring, running and recruiting for clinical trials.

The Deal

H.I.G. Growth Partners, the dedicated growth capital investment affiliate of H.I.G. Capital, has completed a significant growth equity investment in Carebox, a leading software platform that connects patients, families and physicians with potentially life-saving treatment options that are only available in clinical trials.

Carebox partners with more than 40 leading life sciences firms, research organizations and foundations working on clinical trials that offer life-saving treatments and cures for patients. Through PhD-supervised AI and automation, the company has developed CareboxConnect, a transformational clinical trial matching platform that continuously indexes patients’ clinical trial participation eligibility and immediately matches them with relevant studies available for their condition, stage of disease, treatment history and genomic profile. CareboxConnect solutions have been visited by over two million physicians and patients in search of relevant clinical trials to date.

Our Perspective

James West, Lincoln International Managing Director who led the transaction, commented, “Clinical trial recruitment remains the #1 pain point for pharmaceutical companies and Carebox’s services open the channel to connect patients with relevant trials and potentially life-saving therapies. Lincoln’s experience and sector insights allowed H.I.G. Growth to have a clear understanding on how to create incremental value through further accelerated growth of the company.”

Derek Ritchea, Lincoln International Managing Director, commented, “Carebox Health’s innovative CareboxConnect technology platform is revolutionizing clinical trial recruitment. Leveraging our deep expertise in pharma services and healthcare technology, Lincoln was able to offer H.I.G. Growth a truly unique perspective on this exciting investment opportunity. We’re proud to have played a pivotal role in yet another transformative transaction within the pharma technology sector.”

H.I.G. Growth Partners

H.I.G. Growth is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $65 billion of capital under management (based on total capital raised by H.I.G. Capital and its affiliates.). H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth invests across all industries, with a focus on certain high-growth sectors where it has extensive in-house expertise, such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth works closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a large in-house team and a substantial network of third-party relationships.

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