Altas Partners, L Catterton buy majority stake in health platform Fullscript

What's the deal? Altas PartnersDealroom has a profile for this one. Try Dealroom → and L CattertonDealroom has a profile for this one. Try Dealroom → have agreed to acquire a majority stake in Fullscript, a Canadian platform for healthcare practitioners, from existing owners HGGCDealroom has a profile for this one. Try Dealroom → and Snapdragon Capital PartnersDealroom has a profile for this one. Try Dealroom →. Financial terms were not disclosed.

What does Fullscript do? Founded in 2011, it gives practitioners an integrated platform for supplement recommendations and fulfillment, lab management, wearable data integration, and patient adherence tools. More than 135,000 practitioners use it to support 10 million patients annually across North America.

What's the endgame? The investment is meant to expand Fullscript's platform and clinical support capabilities and extend its reach in North American healthcare. "Altas and L Catterton share our conviction in where healthcare is headed," said CEO and co-founder Kyle Braatz.

Why now? The deal ends a five-year run under HGGC and Snapdragon. It also comes as investors bet on the merging of conventional and functional medicine.

The signal: L Catterton's Marc Magliacano framed the thesis around "the convergence of conventional and functional medicine," as more patients seek tools to manage chronic conditions and prevent disease. For Fullscript, new owners with healthcare operating experience signal a push to deepen practitioner support and scale a preventative-care model that private equity increasingly views as a growth market.

Read more: morningstar.com

Image credit: Generated with Gemini