A pioneer in health care ecommerce now has a new owner.
H.I.G. Capital has acquired Health-E Commerce, operator of sites FSAstore.com and HSAstore.com, as well as the Caring Mill private label brand of health care products.
Founded in 2010, Health-E Commerce offers over 2,500 FSA and HSA-eligible products and services on its ecommerce sites. Those offerings cater to consumers who can make purchases using flexible spending accounts.
The online retailer carved out a successful niche in health care ecommerce by simplifying the purchasing experience for consumers with FSA and HSA benefits, guaranteeing eligibility across a variety of categories. Those include:
- Over-the-counter medications
- Pain relief
- Skin and personal care
- Sun protection
- Diagnostic products
- First aid
- Telehealth
The company did not publicly release the terms of the deal.
“We are excited to enter this new chapter with H.I.G. as we continue to enhance Health-E Commerce’s breadth of product and telehealth service offerings to better serve our customers,” says CEO Preston Farrington. “H.I.G.’s consumer and healthcare experience, combined with its significant resources, position us to continue executing upon our growth strategy and vision for the company.”
Based in Miami, H.I.G. Capital is an investment firm with $64 billion of capital under management.
Prior to the sale to HIG Management, Health E-Commerce was managed by BPOC, a Chicago-based private equity firm that invests exclusively in health care companies.
William Blair functioned as financial advisor to Health-E Commerce, a portfolio company of BPOC, in connection with its sale to H.I.G. Capital. The transaction was signed on May 4, 2024, and closed on June 17.
Submit a nomination
Nominate a game-changer for the Global B2B eCommerce Industry Awards from Digital Commerce 360 and the B2B Ecommerce Association.
Sign up
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at mark@digitalcommerce360.com. Follow him on Twitter @markbrohan. Follow us on LinkedIn, Twitter, Facebook and YouTube.
The post An early comer to health care ecommerce is under new ownership appeared first on Digital Commerce 360.
