Ingenovis Health, a tech-enabled platform for healthcare staffing, has acquired another healthcare staffing platform, HealthCare Support. Ingenovis is backed by private investment firms Cornell Capital and Trilantic North America and was formed by a combination of trustaff, CardioSolution, Fastaff Travel Nursing, U.S. Nursing Corporation and Stella.ai. It is one of the fastest-growing providers of healthcare staffing, according to the announcement. HealthCare Support, based in Orlando, Florida, was founded in 2003 and has since grown into one of the largest allied healthcare staffing companies in the country. The acquisition comes as Ingenovis is still in growth mode through both acquisitions and organic growth. "The acquisition of HSS will further enhance and diversify the Ingenovis platform as we execute our targeted acquisitive growth strategy," Stephen Trevor, partner of Cornell Capital, and Jeremy Lynch, partner of Trilantic North America, said in a statement. "HSS has been a consistent outperformer with its client-centric business model and scalable, cloud-based technology infrastructure. Together, the combined business is well positioned to continue capturing market share and driving greater impact for clients across the healthcare industry." The deal also comes as the healthcare industry faces a labor shortage in a tight workforce environment. The COVID-19 pandemic has strained the availability of eligible healthcare workers and influenced many to quit the industry altogether. "This is a pivotal time for the healthcare industry, and we see tremendous growth opportunities in joining forces with Ingenovis to enhance its leadership in healthcare staffing," said Chris Abel, President of HealthCare Support. The acquisition is expected to close in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions.

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Acquisition to Accelerate Growth of Leading Tech-Enabled Platform for Healthcare Staffing, Backed by Cornell Capital and Trilantic North America
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CINCINNATI and GREENWOOD VILLAGE, Colo., Nov. 29, 2021 /PRNewswire/ -- Ingenovis Health, Inc. ("Ingenovis" or the "Company"), a leading tech-enabled platform for healthcare staffing backed by private investment firms Cornell Capital and Trilantic North America, today announced that it has agreed to acquire HealthCare Support ("HSS"), a national healthcare staffing platform providing a full range of customized hiring solutions across the United States. Formed by the combination of trustaff, CardioSolution, Fastaff Travel Nursing®, U.S. Nursing Corporation®, and Stella.ai, Ingenovis Health is one of the fastest-growing providers of healthcare staffing. The Company uses a holistic approach that encompasses shared services and maximized technologies to create significant efficiencies in generating jobs and helping healthcare facilities and systems bring clinicians to the bedside. Founded in 2003 and headquartered in Orlando, Florida, HealthCare Support is one of the largest allied healthcare staffing companies in the country, partnering with clients to hire professionals from administrative to executive levels in both clinical and non-clinical roles. The acquisition of HSS will support Ingenovis Health's strategy of growing its platform both organically and through acquisitions of strong, well-run businesses to further expand service offerings, meet increasing demand for healthcare staffing, and create the platform of choice for employers and jobseekers in the healthcare industry. "Since its founding, HealthCare Support has been a true differentiator, with national reach, diversified offerings across a wide range of healthcare settings, and a long track record of growth," said Bart Valdez, CEO of Ingenovis Health. "We are excited to add such a high-performing business to the Ingenovis platform along with HSS management, who have decades of industry experience and a demonstrated ability to execute and scale. We share a commitment to providing much-needed staffing services across the healthcare industry, and we look forward to adding HSS employees' knowledge and passion to the Ingenovis team as we accelerate our growth plans." "This is a pivotal time for the healthcare industry, and we see tremendous growth opportunities in joining forces with Ingenovis to enhance its leadership in healthcare staffing," said Chris Abel, President of HealthCare Support. "We are impressed with what Bart, the Ingenovis management team, and the Company's partners at Cornell Capital and Trilantic North America have built already. We look forward to partnering together and, through our combined scale and blue-chip client relationships across brands, helping more healthcare providers address their staffing needs to achieve our collective goals." "The acquisition of HSS will further enhance and diversify the Ingenovis platform as we execute our targeted acquisitive growth strategy," said Stephen Trevor, Partner of Cornell Capital, and Jeremy Lynch, Partner of Trilantic North America. "HSS has been a consistent outperformer with its client-centric business model and scalable, cloud-based technology infrastructure. Together, the combined business is well positioned to continue capturing market share and driving greater impact for clients across the healthcare industry." Citizens Bank, N.A. and UBS Securities LLC are acting as joint lead arrangers for the transaction. Financial terms of the transaction were not disclosed. The transaction is expected to close in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions. Davis Polk & Wardwell LLP is acting as legal advisor to Ingenovis, Cornell Capital and Trilantic North America. Wells Fargo Securities, LLC is acting as exclusive financial advisor to HSS, and Nelson Mullins Riley & Scarborough LLP is acting as legal advisor. About Ingenovis Health
Ingenovis Health is an ingenious new force in healthcare combining the power of industry-leading staffing firms and innovative technology to advance delivery of critical healthcare clinicians to systems nationwide. Brands in the portfolio currently include trustaff, Fastaff Travel Nursing, U.S. Nursing Corporation, CardioSolution and Stella.ai. For more information, visit www.ingenovishealth.com . About HealthCare Support
HealthCare Support is a national recruitment firm providing clinical and non-clinical staffing solutions to top healthcare organizations. By aligning the skills, values, and goals of healthcare professionals to the clients that serve their communities, HealthCare Support provides full cycle support to both clients and talent. Founded in 2003, HealthCare Support was named in 2020 as the 8th Largest Allied Healthcare Staffing Firm in the U.S. by Staffing Industry Analysts (SIA). For more information, visit www.healthcaresupport.com . About Cornell Capital
Cornell Capital LLC is a U.S.-based private investment firm with over $5 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrial/business services sectors, often in companies that can benefit from the firm's Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs' Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com . About Trilantic North America
Trilantic Capital Management L.P. ("Trilantic North America") is a leading, growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America's primary investment focus is in the business services, consumer, and energy sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion. Trilantic North America has been recognized by Inc. Magazine's 2021 list of Top Founder-Friendly Investors and has been named one of Growthcap's 2021 Top 25 Private Equity Firms for Growth Companies. For more information, visit www.trilanticnorthamerica.com . Media Contacts

Ingenovis Health to Acquire HealthCare Support

Acquisition to Accelerate Growth of Leading Tech-Enabled Platform for Healthcare Staffing, Backed by Cornell Capital and Trilantic North America
Ingenovis Health, Inc. ("Ingenovis" or the “Company”), a leading tech-enabled platform for healthcare staffing backed by private investment firms Cornell Capital and Trilantic North America, today announced that it has agreed to acquire HealthCare Support (“HSS”), a national healthcare staffing platform providing a full range of customized hiring solutions across the United States. Formed by the combination of trustaff, CardioSolution, Fastaff Travel Nursing®, U.S. Nursing Corporation®, and Stella.ai, Ingenovis Health is one of the fastest-growing providers of healthcare staffing. The Company uses a holistic approach that encompasses shared services and maximized technologies to create significant efficiencies in generating jobs and helping healthcare facilities and systems bring clinicians to the bedside. Founded in 2003 and headquartered in Orlando, Florida, HealthCare Support is one of the largest allied healthcare staffing companies in the country, partnering with clients to hire professionals from administrative to executive levels in both clinical and non-clinical roles. The acquisition of HSS will support Ingenovis Health’s strategy of growing its platform both organically and through acquisitions of strong, well-run businesses to further expand service offerings, meet increasing demand for healthcare staffing, and create the platform of choice for employers and jobseekers in the healthcare industry. “Since its founding, HealthCare Support has been a true differentiator, with national reach, diversified offerings across a wide range of healthcare settings, and a long track record of growth,” said Bart Valdez, CEO of Ingenovis Health. “We are excited to add such a high-performing business to the Ingenovis platform along with HSS management, who have decades of industry experience and a demonstrated ability to execute and scale. We share a commitment to providing much-needed staffing services across the healthcare industry, and we look forward to adding HSS employees’ knowledge and passion to the Ingenovis team as we accelerate our growth plans.”
“This is a pivotal time for the healthcare industry, and we see tremendous growth opportunities in joining forces with Ingenovis to enhance its leadership in healthcare staffing,” said Chris Abel, President of HealthCare Support. “We are impressed with what Bart, the Ingenovis management team, and the Company’s partners at Cornell Capital and Trilantic North America have built already. We look forward to partnering together and, through our combined scale and blue-chip client relationships across brands, helping more healthcare providers address their staffing needs to achieve our collective goals.”
“The acquisition of HSS will further enhance and diversify the Ingenovis platform as we execute our targeted acquisitive growth strategy,” said Stephen Trevor, Partner of Cornell Capital, and Jeremy Lynch, Partner of Trilantic North America. “HSS has been a consistent outperformer with its client-centric business model and scalable, cloud-based technology infrastructure. Together, the combined business is well positioned to continue capturing market share and driving greater impact for clients across the healthcare industry.”
Citizens Bank, N.A. and UBS Securities LLC are acting as joint lead arrangers for the transaction. Financial terms of the transaction were not disclosed. The transaction is expected to close in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions. Davis Polk & Wardwell LLP is acting as legal advisor to Ingenovis, Cornell Capital and Trilantic North America. Wells Fargo Securities, LLC is acting as exclusive financial advisor to HSS, and Nelson Mullins Riley & Scarborough LLP is acting as legal advisor. Ingenovis Health

Aussie Tech Startup Secures Largest Seed Funding In Australian History
Staff Writers 2021-06-17
Australian technology start up, Honey Insurance has secured AU$15.5 million in seed funding, the largest seed round in Australian history for a technology company. Additional investors include Larry Diamond , CEO and Founder of Zip; Tim Fung , Co-founder & CEO of Airtasker; Anthony Eisen , CEO of Afterpay; Graham Mirabito, ex-CEO of Corelogic, Peter Tonagh, former CEO of News Corp Australia and Foxtel, among others. Led by serial entrepreneur Richard Joffe , the co-founder and CEO of Park Assist and Stella.ai in the US, Honey Insurance will give customers an allocation of smart home sensors and reward the customer with lower premiums from day one. This reduced premium is based on the view these sensors will keep their homes safer by helping monitor for avoidable mishaps like fire, water leaks or intrusion. Honey Insurance claim this is the first time an insurance company has used technology to disrupt a AU$10 billion market , dominated by a small number of well established players. Honey Insurance also counts a number of executives from the technology and insurance sectors as part of their team, including Joel Tow , former VP of Engineering at Airtasker; Simon Farrugia , former Director of Product at Campaign Monitor and Domain; Angelo Azar , former Head of Operations at Hollard Insurance and Eoghan Trehy , Chairman of Insurtech Australia. Honey Insurance identify that the funding will be used to rapidly scale their team, adding a further 80 people over the next 12 months. Honey Insurance will also invest heavily in research and development. Richard Joffe, Founder and CEO of Honey Insurance said “We use smart data to simplify a process that’s currently far too confusing than it needs to be.”
“At Honey Insurance we invest in our customers by giving them smart technology for the simple fact that 50% of insurance claims are avoidable. We believe providing protection upfront is just as important as being there for them in the event of a claim.”
Honey Insurance is underwritten by industry giant, RACQ.

Aussie Tech Startup Secures Largest Seed Funding In Australian History

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