Private New York investment firm Aquiline Capital Partners is acquiring Sioux Falls, S.D.-based Avera Health's telemedicine services, the companies announced July 28.
Five things to know:
1. Aquiline will purchase Avera eCare and rename the company Avel eCare.
2. Avel eCare's more than 230 employees will keep their jobs, and the company's headquarters will remain in Sioux Falls.
3. Avera Health patients still will have access to the telemedicine services, with some, including virtual specialty consults, remaining under the health system's management.
4. The telemedicine company provides virtual care services to more than 600 sites across 32 states with service lines including behavioral health, emergency, intensive care unit, pharmacy and hospitalist.
5. Aquiline comprises $6.4 billion in assets under management. Financial terms of the Avera eCare acquisition were not disclosed, but the closing is expected to occur in the fourth quarter of 2021.