H.I.G. Capital has completed the sale of SoldierPoint Digital Health, the telehealth division of its portfolio company Iron Bow Technologies, to GovCIO, a Welsh, Carson, Anderson & Stowe portfolio company. Terms of the transaction were not disclosed.

Since acquiring Iron Bow, H.I.G. partnered with management to transform SoldierPoint from a hardware-based VA telehealth programme into a services-led digital health platform. The division more than doubled its earnings under H.I.G.’s ownership and now provides advanced digital care solutions to the U.S. Department of Veterans Affairs (VA), serving over 2.7m veterans.

“This transaction reflects the successful partnership between Iron Bow and H.I.G. in building SoldierPoint into a premier provider of digital health solutions for the VA. GovCIO is uniquely positioned to support SoldierPoint’s future growth, and this divestiture positions Iron Bow to accelerate efforts within our core IT solutions business,” said Rene LaVigne, CEO of Iron Bow Technologies.

Jeff Zanarini, Managing Director at H.I.G., added: “We’ve facilitated strategic investments to expand SoldierPoint’s role in delivering mission-critical, digital health and telemedicine services to the VA. SoldierPoint’s successful evolution reflects disciplined execution and the ability to scale with purpose.”

Jonathan Fox, Managing Director at H.I.G., said: “SoldierPoint’s success is a testament to the strength of the management team and H.I.G.’s ability to support long-term strategic growth. Through our partnership with Iron Bow, we were able to generate a superior outcome for the Company and its stakeholders.”

Advisors included Jefferies as financial advisor and McDermott Will & Emery as legal counsel.

The divestiture allows Iron Bow to focus on expanding its IT solutions offering, while GovCIO strengthens its digital health capabilities to support the VA’s veteran population.

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