Choate Represents Summit Partners in $40M Equity Investment in Advance Health

 Choate today announced that it advised Summit Partners in connection with a $40 million minority growth equity investment in Advance Health, a leading provider of managed care prospective health assessments and care management solutions. Venture capital firm Noro-Moseley Partners also participated in the funding.

The Choate deal team was led by T.J. Murphy, Co-Chair of the Private Equity Group, Tim Becker and Courtney Scott.

Advance Health provides in-home health risk assessments and chronic care management services through its extensive provider network, has developed a proprietary mobile workflow technology platform that offers complete electronic assessment capture at the point of care.  Clients include many of the country’s largest managed care companies.

Founded in 1984, Summit Partners is a growth equity firm that has raised more than $16 billion in capital.  Summit has invested in more than 400 companies in healthcare, technology and other growth sectors.  These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales.  Notable healthcare companies financed by Summit Partners include CareCentrix, HealthCare Partners, Heart to Heart Hospice, Lincare, MDVIP, Mednax and OB Hospitalist Group.  Summit maintains offices in North America and Europe, and invests in companies around the world.