Pamplona buys minority equity stake in healthcare company

The investment, which comes from Pamplona’s fourth fund, is the latest addition to the firm’s healthcare portfolio

Pamplona Capital Management is investing in Spreemo, a New York-based healthcare marketplace, for a minority equity stake, a spokesman confirmed with Private Equity International.

The investment, led by Pamplona partner Dr. Jeremy Gelber, comes from the private equity firm's Pamplona Capital Partners IV LP fund, which raised €3 billion ($3.36 billion; £2.20 billion) in committed capital in June 2014. The fund focuses on businesses in Europe and North America and has invested in Octo Telematics, BBB Industries and Charter NEX, according to the firm's website. The firm has also invested through previous funds in the healthcare sector, with portfolio companies such as Alvogen, Magnacare and Privia Health.

“Pamplona has a strong track record of healthcare investments, and their financial expertise and industry knowledge will be invaluable as we continue to grow,” Spreemo chief executive officer Ron Vianu said.

Spreemo, founded in 2010, grades radiology providers and has clients that are supermarket and pharmacy chains and insurance carriers. It currently has customers in 36 states, including Marriott on the payer side and University Radiology on the provider side, a spokesman told Private Equity International.

Pamplona, founded in 2005 and based in London and New York, manages over $10 billion in assets with a client base that includes public pension funds, family offices and funds of hedge funds.

Perella Weinberg Partners LP and Lowenstein Sandler LLP advised Pamplona in this transaction.