AmeriHealth Caritas, Wider Circle
|Deal Type||Mergers & Acquisitions|
|Client & Transactional Partners||
|Our Role||Financial Advisor|
Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to AmeriHealth Caritas on its Series B investment in Wider Circle through its new wholly owned subsidiary, Social Determinants of Life, Inc.
AmeriHealth Caritas is now the single largest shareholder in Wider Circle.
AmeriHealth Caritas is one of the nation’s leaders in healthcare solutions for those most in need. Operating in 13 states and the District of Columbia, AmeriHealth Caritas serves nearly 5 million Medicaid, Medicare and Children’s Health Insurance Program members through its integrated managed care products, pharmaceutical benefit management and specialty pharmacy services and behavioral health services.
AmeriHealth Caritas recently announced the creation of a new company, Social Determinants of Life, Inc. An early pioneer in addressing the health outcomes of people who are challenged by poverty and disability, AmeriHealth Caritas is now pursuing a longer-term focus on resilience and life outcomes. The Social Determinants of LifeSM category encompasses all of the social and environmental factors that engender or inhibit wellness and opportunity. Social Determinants of Life, Inc. will invest in, support, and deploy solutions to help people in need build resilience, and help improve their life outcomes. As an initial move to accelerate promising work in social determinants and life outcomes, the company has made a substantial Series B investment of $29 million in Wider Circle.
Wider Circle is a California-based startup that builds tech-enabled, hyper-local health programs and peer-to-peer social networks. The company’s trusted delivery network has been proven to drive resilience, improve member experience and engagement and reduce hospitalizations. Today, Wider Circle offers its innovative programs to more than 320 communities nationwide, including specialized COVID-19 support for vulnerable populations in isolation and peer-to-peer community support.