Debevoise Steers Carlyle Group’s $175 Million Telehealth Deal

Debevoise & Plimpton said it is advising The Carlyle Group-linked funds on a $175 million investment round they led for Grand Rounds, a digital healthcare provider that says it is expanding access to care in the Covid-19 era.

In a statement, San Francisco-based Grand Rounds said it has recently added new virtual provider offerings to enable access to high-quality care for its six million members across over 130 large, self-insured employers, including top companies The Home Depot, Walmart, Salesforce, and Travelers.

Carlyle’s investment will expand the company’s ability to accelerate its expansion in virtual primary care and clinical navigation, Grand Rounds said.

“We are at a turning point in American healthcare, a moment when healthcare has become virtual-first and data can be used to dramatically improve outcomes,” said Owen Tripp, co-founder and chief executive officer of Grand Rounds, in a statement.

Robert Schmidt, a healthcare principal at The Carlyle Group, said, “Healthcare navigation, in particular, is playing a pivotal role in addressing every facet of an individual’s healthcare journey, at scale, by increasing access to high-quality care, while reducing overall costs.”