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April 26, 2021

Sun Life Financial inks $85m deal to buy Pinnacle Care

Sun Life Financial has agreed to buy Pinnacle Care International, a Maryland-based medical intelligence and health-care navigation provider, in a deal worth $85m (around C$108m).

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
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by GlobalData
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PinnacleCare will be part of Sun Life’s U.S. Stop-Loss & Health business upon deal completion in the middle of this year.

The transaction, which awaits regulatory nod, aims to expand Stop-Loss & Health beyond the traditional model.

This model reimburses employers for the costs of serious health conditions after an employee’s care has occurred.

PinnacleCare is said to help Stop-Loss & Health engage with the employee at diagnosis, supporting the employee and employer.

Sun Life U.S M.D., president Dan Fishbein said: “By offering experienced care navigation for members, Sun Life and PinnacleCare will create a new dynamic that will improve care, outcomes and costs in the process.

“PinnacleCare extends the value of our stop-loss programmes beyond reimbursement to directly helping members in the moments that matter.”

PinnacleCare is a private medical intelligence and health-care navigation company.

The firm enables people to access an initial or second medical opinion to make informed treatment decisions. It also carried out medical research as well as appointment facilitation in coordination with a client’s health plan coverage.

PinnacleCare has a staff strength over 170.

Stop-Loss & Health senior vice president Jen Collier, R.N. said: “People who get an unexpected diagnosis are facing a difficult life event and often don’t know where or how to start evaluating their options.

“Bringing in PinnacleCare’s innovative approach to help people at each step of the health-care process will help us improve the experience of our members so they feel supported and cared for when they need it most.”

Sun Life has a presence in Canadathe US, the UK, Hong Kongthe PhilippinesJapan, IndiaChinaAustraliaSingaporeVietnam, among others.

In addition to insurances, it offers wealth and asset management solutions.

Last year, the firm purchased an 80% stake in the UK-based global infrastructure and real estate manager InfraRed Capital Partners.

 

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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