Nox Health recently announced a strategic growth investment from Vestar Capital Partners, a middle-market private equity firm. The investment will help Nox accelerate the development of its sleep diagnostic technology and services, and adoption of its value-based comprehensive sleep management solutions for employers and health plans. The financial terms of the investment were not disclosed.
“We are delighted to welcome Vestar as a strategic investment partner to help us accelerate our growth. We were looking for a partner with relevant and credible experience and found it in Vestar,” says Nox Health CEO Sigurjon Kristjansson, in a statement.
“Today’s fee-for-service healthcare economy places the onus on the consumer to navigate a gated healthcare experience — especially detrimental to sleep health. At Nox, we enable a consumer-centric experience, leveraging our state-of-the-art technology portfolio and value-based sleep management solutions to simplify access, reduce costs and improve health outcomes.”
“Lack of sleep is a silent killer. Sleep disorders are comorbid with seven of the 15 leading causes of death,” says Roger Holstein, managing director at Vestar Capital Partners, in a statement. “Nox is not only a global leader in the science of sleep diagnostics, but it has also created a value-based, comprehensive sleep care management program which fulfills all the objectives of the healthcare ‘Triple Aim’ — a frictionless member experience, with demonstrated health outcomes at a measurably lower cost. We are excited to partner with Sigurjon and the entire Nox team to accelerate the Company’s mission and help millions of people wake up to a brighter world.”
“Sleep is an attractive healthcare category with sustainable long-term growth tailwinds and significant unmet demand,” says Mike Vaupen, managing director at Vestar Capital Partners, in a statement. “Nox has built a differentiated and market-leading set of diagnostic devices, workflow software, and value-based care management services that support a patient’s entire sleep care journey. We look forward to supporting the Company in its next phase of growth.”
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