PRESS RELEASE

from TeleMed2U

Kayne Anderson Growth Capital Invests in TeleMed2U, a Multi-Specialty Telehealth Platform

ROSEVILLE, CA / ACCESSWIRE / March 11, 2024 / TeleMed2U, a leading provider of telemedicine solutions, is excited to announce Kayne Anderson Growth Capital, the dedicated growth capital strategy of Kayne Anderson has acquired a majority share of the business. This strategic partnership marks a pivotal moment for TeleMed2U as it accelerates its mission to increase access to medical and mental healthcare by leveraging technology to connect patients and providers seamlessly.

TeleMed2U's comprehensive suite of telemedicine services engages patients across the healthcare continuum, offering outpatient care, inpatient services, and asynchronous telemedicine across a wide range of specialties, including Behavioral Health, Endocrinology, Rheumatology, Infectious Diseases, Dermatology, and more, regardless of the patient's geographic location. The recent growth of the company can be attributed to its expansive product offerings, which have garnered significant interest from national health plans and health systems.

"Our team is thrilled to have the support of a leading investment firm like Kayne Anderson to drive TeleMed2U's network expansion and better outcomes for our patients and clients," said TeleMed2U CEO AJ Patel. "Kayne has the expertise and vision to accelerate TeleMed2U's plan to deliver value by applying targeted capital to support operational and growth initiatives, including proprietary technology development and continued population health management opportunities with payors."

TeleMed2U's partnership with Kayne Anderson comes at a time of unprecedented growth in the telemedicine industry, driven by increasing demand for remote healthcare solutions and advancements in technology. With Kayne Anderson's support, TeleMed2U aims to further enhance its telemedicine platform, broaden its network of healthcare providers, and scale its operations to meet the evolving needs of patients and healthcare providers nationwide.

"We are excited to partner with a clear leader in the specialty telemedicine space and recognize the tremendous value TeleMed2U offers large payors and health systems with accessible, high-quality care to patients across the country," says Nishita Cummings, Managing Partner at Kayne Anderson Growth Capital. Susan Solinksy, Kayne operating partner, and newly joined member of TeleMed2U's Board of Directors added, "TeleMed2U's virtual support for people with specialty care and behavioral health needs is a tremendous step towards more equitable care. I'm so proud to work with an organization that recognizes the need for an integrated approach to treating physical and mental health issues."

Ziegler, a specialty investment bank, served as the exclusive financial advisor to TeleMed2U in connection with the transaction.

About TeleMed2U:

TeleMed2U is a leading specialty care company, focused on leveraging technology and end to end patient services to provide quality affordable care. With over 275 specialist care providers in 20 specialties, TeleMed2U has grown to manage over 2 million lives with end-to-end patient care, ensuring high continuity of care for recurring patients by providing access to a single, sustained, patient care team. Since founding in 2011, TeleMed2U's transformational multispecialty patient care platform, provides specialty telehealth solutions to businesses like primary care physicians, payor networks, health systems and employer groups as well as a direct patient platform, making access to an array of specialties ranging from mental health to infectious diseases readily available to the patient. For more information, visit www.telemed2u.com.

About Kayne Anderson Growth Capital:

Kayne Anderson Growth Capital, the Los Angeles-based dedicated growth capital strategy of Kayne Anderson, is a leading provider of equity and debt capital solutions and connections to lower middle market, privately held, high-growth, enterprise software and tech-enabled service businesses in North America. The team has developed a durable and repeatable investment strategy and process for applying its stage expertise through sourcing and investing in companies at an early inflection point, adding value and scaling through organic growth and M&A, and exiting these must-have assets to strategic & financial sponsors. Kayne Anderson Growth Capital seeks to partner with driven entrepreneurs and provide capital to high-growth companies at a transformative point in their life cycle in the following industries: media & telecommunications, supply chain & logistics, financial technology, healthcare IT, security, compliance & infrastructure, and business process outsourcing & automation. For more information, please visit www.kayneanderson.com/growth-capital/.

About Kayne Anderson:

Kayne Anderson, founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure, energy, and growth equity. Kayne's investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. As responsible stewards of capital, Kayne's philosophy extends to promoting responsible investment practices and sustainable business practices to create long-term value for our investors. Kayne manages over $34 billion in assets (as of 12/31/2023) for institutional investors, family offices, high net worth and retail clients and employs over 330 professionals in five core offices across the U.S. and Europe. For more information, please visit http://www.kayneanderson.com/.

For media inquiries, please contact:

Melissa Cook
National Director of Business Development
TeleMed2U
(916) 746-2341
press@telemed2u.com

Paul Blank
President & COO
Kayne Anderson
(310) 284-6410
pblank@kayneanderson.com

Andrew DeYoung
Managing Director, Business Development
Kayne Anderson Growth Capital
(310) 284-6448
adeyoung@kayneanderson.com

SOURCE: TeleMed2U




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