Results
H.I.G. Capital LLC
11/18/2024 | Press release | Distributed by Public on 11/18/2024 08:32
H.I.G. Growth Completes Significant Growth Investment in Carebox
- November 18, 2024
- North America
- Technology, Media, and Telecom
H.I.G. Growth Completes Significant Growth Investment in Carebox
SAN FRANCISCO - November 18, 2024 - H.I.G. Growth Partners ("H.I.G. Growth"), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce that it 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 over 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.
"No patient should miss out on an available treatment option or clinical trial because they or their doctor were unaware of it or how to access it," said Brian Weiss, Carebox's founder and CEO. "Our unique technology, software, and partnerships allow patients and their physicians to access potential or previously out-of-reach treatments and potential cures by serving as the hub for them to connect with the innovators working tirelessly to develop and deliver lifesaving treatments. H.I.G. Growth has an impressive track record in scaling transformative software and healthcare companies, and we are thrilled to partner with them in this next phase for Carebox. Their insight and expertise will enable us to connect more patients and their doctors to clinical trials that could improve their health."
"Brian and the Carebox team have built an extraordinary software platform. Their innovative technology streamlines how patients can identify and participate in upcoming and ongoing clinical trials," said Albert Koh, Principal at H.I.G. Growth. "With Carebox's focus on the intersection of technology and healthcare, we are ideally positioned to bring our deep operational and institutional expertise together with the resources, relationships, and experience that will enable them to scale, so they can continue be a lifeline for more patients in need of treatment."
Lincoln International served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to H.I.G.
About Carebox
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 $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. Learn more about Carebox at careboxhealth.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $66 billion of capital under management.* 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 Partners 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. For more information, please refer to the H.I.G. website at HIGgrowth.com.