CHICAGO – Aug. 3, 2021 – First Analysis acted as the exclusive financial advisor to Healthify in its sale to WellSky, a leading health and community care technology company. Healthify improves the health of communities by connecting healthcare organizations with social service organizations to address the social determinants of health (SDoH). Healthify's past investors include SV Health Investors, Sandbox Ventures, Activate Venture Partners, Primary Venture Partners and Acumen. The terms of the transaction were not disclosed.

Seamless coordination between providers, community-based organizations and payers is the key to delivering value-based care at scale. Together, WellSky and Healthify will connect providers across and within communities to identify social needs, search for social services, and coordinate care with an integrated network of community partners to improve outcomes and remove social barriers to health and wellness.

“Our mission at Healthify is to build a world in which no one’s health is hindered by their needs like access to food, transportation or housing,” said Manik Bhat, co-founder and CEO of Healthify. “First Analysis understood the importance of finding a partner aligned with our mission. The team’s deep industry expertise and guidance was invaluable during the process and led to a fantastic outcome.”

“Social determinants of health have existed for as long as there have been economic inequities across populations – it’s not a new idea,” said Andrew Walsh, managing director at First Analysis. “Commercializing solutions to address them at scale is more recent, however, and Healthify has been an early pioneer in solving these big problems. In joining WellSky, they find a partner that has been a vocal advocate for whole-person care, and has the depth of resources and breadth of solutions to impact vulnerable populations more fully. Together they are poised to deliver on the potential for integrated healthcare and community services in a market-defining way.”

First Analysis focuses its advisory services on high-growth, entrepreneur-driven companies like Healthify. The First Analysis team worked closely with the management team to optimally position the company and find the best partner to help Healthify to continue to achieve its objectives. First Analysis was actively engaged throughout the transaction process, including preparation, positioning, investor coordination and contact, due diligence and negotiation.

About Healthify

Powered by a mission to build a world where no one's health is hindered by their need, Healthify builds the infrastructure to support social determinants of health (SDoH) initiatives at scale. The company builds and manages accountable networks of community-based organizations and provides the necessary interoperable technology platform to allow the healthcare sector to coordinate care within the network. Healthify works with health plans, providers, and community partners in all fifty states and is dedicated to community partner sustainability and demonstrating ROI for social service interventions to ensure families receive the services they need to thrive.

About WellSky

WellSky is a technology company leading the movement for intelligent, coordinated care worldwide. Our next-generation software, analytics, and services power better outcomes and lower costs for stakeholders across the health and community care continuum. In today’s value-based care environment, WellSky helps providers, payers, health systems and community organizations solve tough challenges, improve collaboration for growth, harness the power of data analytics and achieve better outcomes by further connecting clinical and social care. WellSky serves more than 20,000 client sites — including the largest hospital systems, blood banks, cell therapy labs, blood centers, home health and hospice franchises, post-acute providers, government agencies and human services organizations. Informed by more than 40 years of providing software and expertise, WellSky anticipates clients’ needs and innovates relentlessly to ultimately help more people thrive.

About First Analysis

Founded in 1981, First Analysis has a 40-year track record of serving emerging growth companies and established industry leaders within its focused areas of domain expertise. Our investment banking practice leverages industry insights developed through our research and investing activities to deliver value to clients across the life cycle of a business. Providing senior-level attention to every client, First Analysis offers superior execution across a comprehensive range of investment banking services, including M&A advisory and growth financings.