Rallyday Partners and Pyx Health Complete Successful Recapitalization
Rallyday Partners exits Pyx Health, through an investment from TT Capital Partners to accelerate the growth of Pyx Health’s solution to the loneliness epidemic
DENVER, COLORADO, UNITED STATES OF AMERICA, August 7, 2023 / EINPresswire.com / — Rallyday Partners (Rallyday), a Denver-based private equity firm executing its “built by founders for founders” investing strategy, has announced the firm’s sale of its investment in Pyx Health.
Pyx Health, a tech-enabled services company that provides health plans and their members an innovative, scalable solution that uniquely reduces loneliness and social isolation, has announced a majority growth investment from TT Capital Partners. The company’s innovative app-based technology, paired with timely human interventions, improves patient and member outcomes in vulnerable populations, reduces financial burdens on the health care system, and promotes health equity.
Since partnering with Rallyday in March 2021, Pyx Health has grown over 600%, enhanced its product and service offerings, and launched its youth program where pilot participants saw a 72% reduction in loneliness. In partnership with Rallyday, Pyx Health invested heavily in the foundation of the platform including scalable culture and executive talent to reach to more than 6 million covered lives in 30 states.
Nancy Phillips, Rallyday Managing Partner, said: “Today marks a significant milestone in our journey as we announce Rallyday’s successful exit of our investment in Pyx Health. We are immensely proud to have helped Cindy, Anne, and the Pyx Health team turn their vision into an extraordinary reality that is serving the needs of millions of patients today. This was more than an ‘investment’ to the Rallyday team. Our entire firm will always feel deeply connected to Pyx Health’s purpose and their transformational impact on our country’s well-being.”
Pyx Health’s Cindy Jordan said: “As a founder and CEO, partnering with Rallyday, a private equity firm built by successful founders, changed the trajectory of Pyx Health. Rallyday’s investment far exceeded the financials: Their unique holistic approach to honing culture and establishing strategic priorities has been integral to Pyx Health becoming the leader in helping people who struggle with loneliness and social determinants of health. As we move forward with TT Capital Partners, Pyx Health is excited to continue the important work made possible by Rallyday’s passionate commitment to our company and this mission.”
Ryan Heckman, Rallyday Managing Partner, concluded: “We are thrilled that TT Capital Partners is making such a large commitment to Pyx Health, and we feel proud that we supported this revolutionary company that will become increasingly integral in solving the $400+ billion annual problem of loneliness and social isolation. TT Capital Partners will be great partners to the Pyx Health team and we can’t wait to see what they accomplish together.”
TripleTree LLC served as exclusive financial advisor to Pyx Health. Weiss Brown PLLC and Brownstein Hyatt Farber Schreck LLP provided legal counsel to Pyx Health. Financial terms of the transaction were not disclosed.
About Pyx Health
Pyx Health offers the first evidence-based, data-driven loneliness solution that effectively addresses society’s critical loneliness epidemic. Pyx Health leverages scalable technology and skilled, compassionate peer-to-peer human support to effectively reduce loneliness. Pyx Health’s unique approach improves mental health outcomes, mitigates loneliness-related physical health conditions, and ultimately reduces health care costs. Because no one gets better alone™. More information regarding Pyx Health is available at www.pyxhealth.com.
About Rallyday Partners
Rallyday Partners is a Denver-based private equity firm that was built by successful entrepreneurs to provide a better way of serving and partnering with emerging companies and their leaders. Drawing upon its four sources of capital – creative, financial, experiential, and human capital – the firm’s ‘by founder for founders’ strategy provides an alternative to traditional private equity for those that want to go even further, elevate entire industries, and have an experience of a lifetime together. More information regarding Rallyday is available at www.rallydaypartners.com.