Medivo Inc. Sells Leading Lab Services Platform to PWNHealth, LLC

Medivo Inc., a leader in lab data analytics, announced today that its lab testing authorization services division has been sold to PWNHealth, LLC, a newly formed company. Under the transaction, PWNHealth will acquire all of the assets associated with this division, including a physician network that covers all 50 states, a robust technology platform that facilitates over five million diagnostic tests per year for some of the largest labs, payers, wellness companies and direct to consumer diagnostic testing companies in the country, and a full-service patient call center. "Medivo's strategic focus on healthcare data analytics has led to tremendous advancements in providing labs, payers and pharmaceutical companies with solutions to unlock the power of lab data to improve health," said Sundeep Bhan, Medivo's CEO. "The sale of our lab test authorization division allows us to focus on our core business of aggregating, analyzing and commercializing healthcare data, with the goal of getting the right therapies to the right patients at the right time." With this transaction, "the lab test authorization business is being transferred to a strong team who can help scale and provide value to consumers and to industry stakeholders." PWNHealth will be led by healthcare industry veteran Sanjay Pingle, who co-founded Medsite with Bhan before working as President of Physicians Interactive, which was acquired by Merck. Pingle plans to grow the company's core capabilities of lab connectivity and physician authorization and oversight while also developing new areas for expansion. "The assets of PWNHealth provide us with a unique opportunity to offer added value to a broad range of health stakeholders," says Pingle. "I am excited to acquire this comprehensive platform in partnership with EDG Partners and to leverage their significant expertise in supporting the development of differentiated healthcare platforms." PWNHealth enables diagnostic testing via clinical oversight and connectivity solutions. PWNHealth offers user-friendly and configurable plans for screening, including core lab and genetic testing, and will continue to develop new services to fill the unmet needs of industry stakeholders. The acquisition was supported by healthcare-focused private equity firm EDG Partners, a leader in healthcare growth and middle market buyouts. EDG co-founder and managing director Mike Gaffney will serve as Chairman of the PWNHealth Board of Directors. Also joining the company's Board of Directors will be Daniel Laroue of EDG Partners and J.T. Mauk.