Spiro Health receives investment

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Friday, May 15, 2020

SANDWICH, Mass. – NewSpring, a private equity firm, has made an investment in Spiro Health, in partnership with Upstream Capital.

Spiro was formed in April when America’s Healthcare at Home, Cape Medical Supply and Health Complex Medical merged to create a larger, regional company focusing on sleep and respiratory equipment and services.

“Together, this combined entity is even greater than the sum of its parts,” said Steve Hobman, NewSpring general partner. “As the number of individuals in need of home medical equipment continues to rise, we expect Spiro Health to continue leveraging its best-in-class patient and referral partner experience and market position to reach higher levels of growth.”

Spiro Health operates in seven states on the East Coast and has an active patient count of more than 50,000 patients.

The investment will be used to increase Spiro’s geographical footprint and build its technology platform.

“NewSpring’s experience growing middle-market companies makes them the perfect partner to help us unify our member companies’ operations, expand into new geographies, and improve patient experiences,” said Gary Sheehan, CEO of Cape Medical and Spiro Health.

Terms of the deal were not disclosed.