Avalon Healthcare Solutions Has Been Recapitalized by WindRose Health Investors

William Blair acted as the exclusive advisor to Avalon Healthcare Solutions (Avalon), a portfolio company of Francisco Partners, Blue Cross Blue Shield South Carolina, Echo Health Ventures, and HCSC Ventures, in connection with its majority recapitalization by WindRose Health Investors. The transaction signed on November 19, 2025, and closed on December 31, 2025. This transaction marked William Blair's 17th signed or closed advisory deal in Healthcare Technology in 2025.

About the Companies

Avalon is a laboratory insights platform that offers comprehensive solutions across routine test management, genetic test management, and network management for health plans. The company platform provides science-based lab expertise to payers to deliver cost savings and better patient outcomes.

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, the firm has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With roughly $50 billion in capital raised, Francisco Partners invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.

WindRose Health Investors makes equity investments in companies that operate within the services sectors of the healthcare industry. The firm focuses on the U.S. healthcare services sector, investing in companies offering cost-effective, innovative solutions like tech-enabled services, outsourced solutions for payers/providers, and value-added distribution, aiming for operational excellence and long-term growth by aligning with industry trends.

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