American private equity firm GrowthCurve is acquiring a controlling stake in Israeli digital health company TailorMed in a deal valued at approximately $250 million, Calcalist has learned. The companies did not disclose the transaction value. Most of TailorMed’s existing shareholders are expected to sell their holdings as part of the deal.
Founded in 2016, TailorMed has developed a platform that helps patients in the United States navigate the financial and bureaucratic hurdles involved in obtaining medication and staying on treatment. The company has raised approximately $60 million to date and employs around 120 people, including roughly 50 in Israel. Its employees are expected to remain in their roles following completion of the transaction.
TailorMed was founded by Srulik Dvorsky and Adam Siton, whose personal experiences with serious illnesses in their families exposed them to the difficulties of accessing medical care in the United States. The country’s healthcare system is marked by high costs and complicated processes involving insurers, hospitals and pharmaceutical companies. Even when a physician prescribes a medication, patients may be unable to afford it or may struggle to complete the administrative steps required to obtain it.
TailorMed initially focused on patient financial assistance, identifying funding programs and connecting patients with sources of support. Over time, it expanded its offering to address other obstacles along the treatment process.
“We started as a point solution for the problem of costs, and evolved into a vast network capable of overseeing a patient’s entire medication journey, bridging the gap between pharmaceutical companies and patients,” Dvorsky, the company’s CEO and co-founder, told Calcalist. He said TailorMed came to realize that expanding its impact would require addressing not only the cost of medication but also the other barriers that can prevent patients from receiving care.
According to company data, TailorMed’s network connects with more than 950 hospitals, 4,700 clinics and 3,100 pharmacies across the United States. It includes more than 100 pharmaceutical company programs and over 6,000 support programs, reaching more than 75 million patients. Since 2020, the company says it has helped patients secure more than $7.4 billion in financial assistance. That figure represents support made accessible to patients, not revenue generated by TailorMed.
The network brings together different parts of the healthcare system, giving patients and their care teams access to assistance programs that might otherwise go unnoticed.
“Pharmaceutical companies offer numerous programs that can assist patients, ranging from help with securing insurance and ensuring treatment adherence to financial funding, and even home-based nursing services,” Dvorsky explains. He says uptake remains low because many patients do not know these programs exist, while pharmaceutical companies cannot always identify which patients need help.
“We have found a way to provide patients with access to a wide range of solutions, addressing more than just the barrier of cost,” he says.
The company is now seeking to develop its platform into a broader system connecting patients, hospitals, pharmacies and pharmaceutical companies throughout the course of treatment, rather than focusing primarily on financial assistance.
GrowthCurve’s acquisition of a controlling stake is intended to support TailorMed’s next stage of expansion, including the development of additional services and the integration of artificial intelligence capabilities. The private equity firm invests in mid-sized businesses in technology, information services, healthcare and financial services, using data, product development and engineering to support growth across its portfolio.
“The acquirer sees us as having the potential to establish an entirely new category,” Dvorsky says. “We will serve as the anchor for the platform, and it is possible that they will acquire additional companies to integrate with us.”
“We aim to build additional layers to the solution, whether through in-house development or by acquiring other companies,” he adds.
Dvorsky says the company plans to continue expanding by drawing on its understanding of the American healthcare market and the needs of the different stakeholders operating within it. “We realized that we had to be close to the market and understand its requirements. We started as a small, niche operation, and an opportunity arose to build something much larger.”
“As one of the company’s early investors, we were deeply impressed by Srulik and Adam, specifically their ability to grasp the root causes of problems within the American market and develop a technological solution that fits the need perfectly,” says Michal Geva of Triventures. “It may sound straightforward, but devising such a complex solution for a problem that doesn’t even exist in Israel only adds to the challenge. Beyond the technical prowess found in Israel, this is one of the defining traits of Israeli entrepreneurs.”
TailorMed’s investors include Sanara, Triventures, Accelmed, Allumia Ventures (formerly Providence Ventures), Almeda Ventures, Bridges Israel, BrightEdge, part of the American Cancer Society, Discount Capital, OSF Ventures, the Citi Impact Fund and Windham Ventures.
