WindRose Health Investors Acquires CardioOne

WindRose & Portfolio Company News

New York, NY, March 4, 2024 — WindRose Health Investors, LLC (“WindRose”), the New York-based healthcare private equity firm, announced that it has completed the acquisition of CardioOne Inc. (“CardioOne” or the “Company”), a physician enablement company built specifically to serve independent cardiologists. CardioOne enables cardiologists to thrive today while preparing them for the future of value-based care. The Company provides physicians with an integrated technology platform, a practice optimization program, a workforce solution, and a growth engine that combines to provide a best-in-class patient and provider experience. The terms of the transaction were not disclosed.

WindRose partnered with CardioOne’s executive team to acquire the business and to provide up to $100 million of additional capital to support the Company’s ongoing growth. With WindRose’s investment, CardioOne will accelerate its next phase of expansion and enhance its existing service offerings. CardioOne’s current management team will continue to lead the company and remain active shareholders going forward.

“We are excited for the opportunity to partner with WindRose as CardioOne embarks on its next chapter of growth,” said Jasen Gundersen MD, CardioOne’s Chief Executive Officer and co-founder. “We believe that working with WindRose, which has a history of successfully partnering with companies to help navigate the transition to value-based care, will empower us to continue supporting independent cardiologists while developing additional solutions that maximize each practice’s potential in the shift to VBC arrangements.”

“CardioOne’s unique, physician-aligned model meets the market where it is and positions the Company to take advantage of the growing desire among cardiologists to maintain their independence,” said Oliver Moses, Managing Partner with WindRose. “We believe CardioOne delivers a compelling tech-enabled offering to the independent cardiology market and has significant growth potential as the Company builds upon its momentum in 2023. We are excited to join forces with Jasen and his team as they continue to build upon the differentiated platform they have created.”

McDermott Will & Emery LLP and Bass, Berry & Sims PLC acted as legal advisors to WindRose and Kastner Gravelle LLP acted as legal advisor to CardioOne.


About WindRose Health Investors

WindRose makes equity investments in companies that operate within the services sectors of the healthcare industry. The firm focuses on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $2.6 billion. WindRose is based in New York City and invests in companies throughout the United States. For more information, please email us at info@windrose.com.

About CardioOne

Launched in 2023, CardioOne is a cardiology-focused care delivery enablement company that offers technology and administrative support to independent cardiologists moving into the value-based care space. Through its comprehensive technology platform that is uniquely tailored to the specific workflows of cardiologists, CardioOne allows clinicians to focus on delivering high quality patient care while receiving support on the administrative functions within their practices. CardioOne’s mission is to ensure that local cardiologists have the necessary tools and support to maintain their independence while also thriving in an increasingly demanding practice environment. For more information, please visit www.cardioone.com.

Contact:
Caroline Luz
Lambert
cluz@lambert.com
203-570-6462