UpHealth to divest Cloudbreak for $180 million and repay notes

Chicago, Nov. 16 – UpHealth Inc. announced that it will be selling its Cloudbreak Health, LLC business to GTCR for $180 million in cash, according to a press release.

Proceeds will be used to repay all of the company’s unsecured debt and 45% of its secured debt.

Specifically, the company will pay in full or in part the company’s unsecured notes due 2026 and the secured notes due 2025.

The Cloudbreak sale is expected to close in the first half of 2024.

UpHealth will focus on growing its TTC Healthcare, Inc. business following the sale.

The digital health company is based in Delray Beach, Fla.

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