Husch Blackwell represented UpHealth Holdings, Inc., an innovative digital health company, in its recently closed business combination with GigCapital2, Inc. and Cloudbreak Health, LLC, a leading unified telemedicine and video medical interpretation solutions provider.
The combined company, UpHealth, Inc., began trading on the New York Stock Exchange on June 10, 2021, and is one of the only profitable, publicly traded, comprehensive global digital healthcare companies and has a pro forma enterprise value of approximately $1.35 billion.
“We are proud partners of UpHealth and its portfolio companies and are particularly excited about this major transaction,” said Husch Blackwell partner Kate Bechen, the firm’s lead M&A lawyer on the transaction. “SPACs proliferated in the past year and digital health became more common place because of the COVID-19 pandemic. This deal brought those two trends together, and we are grateful to have worked on this highly complex and innovative transaction.”
“To see our company being traded on the New York Stock Exchange is a huge testament to the entire Husch Blackwell team’s ability,” said Dr. Chirinjeev Kathuria, Co-Chairman and Co-founder of UpHealth. “Led by Kate, Husch successfully guided us through the complex SPAC process, which now allows us to scale our operations in a healthcare market ripe for much-needed change and innovation.”
The overall transaction was led by Bechen, with significant aspects led by Robin Lehninger, Beth Hanus, Shari Wright, Steve Laabs, Fang Shen, Remy Fesquet and Albert Lin. Numerous additional team members provided significant support to the transactions. The full client press release can be found at: UpHealth and GigCapital2 Announce Closing of Business Combinations