Comvest Credit Partners acted as administrative agent in providing a senior secured credit facility to support the carve-out of Avera eCare from Avera Health by Aquiline Capital Partners, a private investment firm. The new company, called Avel eCare, is a telemedicine care provider.
“Avel eCare is an exciting company with a meaningful offering and strong continued growth potential,” Tom Goila, a partner at Comvest Credit Partners, said. “We are pleased to contribute Comvest’s significant investment expertise in recurring-revenue businesses in the healthcare and technology sectors in structuring a highly customized, needs-responsive facility that will enable Avel eCare to rapidly expand the business. We look forward to our partnership with Aquiline Capital Partners to support Avel eCare in delivering world-class telehealth services to its customers.”
