NEW YORK–(COMMERCIAL THREAD) –DA Davidson & Co. announced today that it has acted as exclusive financial advisor to WISP in connection with its acquisition of a controlling $ 41 million stake by WELL Health Technologies Corp. most advanced care possible while taking advantage of the latest trends in digital health. The value of the transaction implies an approximate enterprise value of $ 77 million for WISP.
Founded in 2018 and based in San Francisco, WISP provides cost-effective telehealth access for primary care, prescription drugs, and natural remedies to all humans, regardless of health insurance. WISP specializes in online female-focused reproductive and sexual health treatment, with a focus on more personalized, convenient and easy care. To date, WISP has provided care to more than 200,000 patients in all 50 states of the United States.
“Healthcare is undergoing a radical shift towards consumerism,” said Greg Hartlein, director of the Technology Investment Banking Group at DA Davidson. “WISP is at the forefront of this transformation, particularly in the area of women’s health, enabling a unique experience from consultation to treatment without leaving the comfort of home. We were delighted to partner with the WISP team on this important transaction, which highlights the continued demand for these types of innovative delivery models in the market. ”
“Digital health is at the heart of our technology practice,” said Joe Morgan, co-head of Technology Investment Banking Group at DA Davidson. This transaction highlights our focus and in-depth knowledge of the category domain. We look forward to partnering with other market leaders in the healthcare IT ecosystem.
The acquisition will expand WELL’s existing telehealth services and add a new e-pharmacy component to the WELL network. Globally, the women’s health market represents a more than $ 30 billion industry and this transaction will make WELL an emerging provider of women’s health services in the United States.
“WISP has grown over the years through a strong appreciation of its customers and their needs,” said Matthew Swartz, Founder and CEO of WISP. “With the help and dedication of the DA Davidson team, we have been able to find a partner who shares this appreciation, and with WELL, we will continue to innovate, invest and expand our services to new clients in new markets. . ”
DA Davidson’s tech investment banking practice is one of the most active middle market groups in the United States, having advised more than 50 advisory and private equity deals worth over $ 20 billion. dollars since January 2021.
DA Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive expertise in financial advisory and capital markets. The group has extensive transaction experience serving middle market clients around the world in four verticals: consumers, diversified industries, financial institutions and technology.
In collaboration with its European strategic partner, MCF Corporate Finance, DA Davidson creates and executes transatlantic M&A transactions under the common brand of DA Davidson MCF International.
About DA Davidson Companies
DA Davidson Companies is an employee-owned financial services company providing a range of financial services and advice to individuals, businesses, institutions and municipalities nationwide. Founded in 1935 and based in Montana, with offices in Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 28 states.
Subsidiaries include: DA Davidson & Co., the largest full-service investment firm based in the Northwest, providing wealth management, investment banking, equity and markets services and advice fixed income capital; Davidson Investment Advisors, a professional asset management company; DA Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor who provides portfolio and advisory services in fixed income securities.
For information, visit dadavidson.com.