April 29, 2025 (Boston, MA) – Covington Associates, a leading middle-market investment bank, announced its role as exclusive financial advisor to Persivia, a leader in AI-driven digital health solutions, in a $107 million recapitalization and growth investment from Aldrich Capital Partners, a growth equity firm focused on high-potential healthcare and technology companies.

With this investment, Persivia is set to accelerate its expansion plans, significantly grow its sales force over the next 12 months, and roll out new AI-powered solutions aimed at driving the next level of operational efficiency and patient management for healthcare organizations nationwide.

“This partnership is about more than just capital,” said Dr. Mansoor Khan, CEO of Persivia. “It’s about launching a national growth strategy and making our platform the first choice for every healthcare organization that wants clean, actionable data and AI-driven tools to support value based care.”

Dr. Fauzia Khan, COO of Persivia, added, “The Persivia team has done an incredible job of leveraging AI to build an industry leading Digital Health Platform. Starting from product management through engineering, support and account management, each team has gone way beyond the call of duty to deliver excellence. Aldrich’s due diligence showed tremendous client satisfaction as demonstrated by an Industry leading NPS score of 83.”

Persivia’s platform is trusted by leading health systems and payers to streamline workflows, reduce costs, and improve outcomes. Unlike traditional solutions, Persivia offers a single AI-powered platform that delivers clean, governed data across every user and every use case — from value-based care to population health, quality improvement, and more.

Mirza Baig, Managing Partner at Aldrich Capital Partners, said: “We’re excited to partner with a team that’s already changing how healthcare operates. Our goal is to help Persivia scale faster through targeted acquisitions and partnerships that enhance its capabilities and market presence.”

Ron Zwanziger, founder of Alere, Inc and Electra DX and a major investor in Persivia, added: “It gives me tremendous satisfaction to see the Connected Health vision we had to improve outcomes years ago come to fruition in Persivia. When you have such a great team, it doesn’t take hundreds of millions of dollars to lead the industry.”

Covington Associates acted as exclusive financial advisor to Persivia in this transaction. Tom Cibotti, Managing Director at Covington Associates said, “It was a pleasure to work with Persivia and Aldrich Capital Partners on this transaction. We believe their combination will drive continued innovation that enhance clinical and operational outcomes for their clients. We look forward to watching the Company grow in this exciting next chapter.”

About Persivia

Persivia delivers an AI-powered platform that helps healthcare organizations work smarter. By unifying clinical, claims, social, and operational data into one intelligent system, Persivia turns complex data into real-time insights that drive decisions, streamline workflows, and improve performance across the board. 

Whether it’s powering value-based care, optimizing risk, improving quality, or managing cost and utilization, Persivia’s platform gives payers and providers the tools to move faster, act earlier, and operate more efficiently.

Headquartered in Marlborough, MA, Persivia supports 200+ hospitals and 12,000+ clinicians nationwide.

About Aldrich Capital Partners

Aldrich Capital Partners is a growth equity firm that invests in technology-driven companies with strong leadership and market momentum. The firm provides capital and hands-on support to help companies scale operations and deliver on their growth potential.

About Covington Associates

Covington Associates is an investment banking firm offering advisory services in mergers and acquisitions (M&A), capital raising, and strategic advisory for middle-market companies across Healthcare, Business Services, Consumer & Industrial, and Technology sectors. Established in 1991 and headquartered in Boston, Covington has successfully completed over 350 transactions globally for private and publicly traded companies, totaling more than $30 billion.