Avel eCare Announces Closing of Ownership Transition to Aquiline Capital Partners

Telemedicine Carve-Out from Avera Health To Be Led By Industry Veteran Doug Duskin

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Nov 02, 2021, 08:00 ET

SIOUX FALLS, S.D. and NEW YORK, Nov. 2, 2021 /PRNewswire/ -- Avel eCare announced today the closing of its ownership transition from Avera Health to Aquiline Capital Partners, a private investment firm based in New York and London with $6.9 billion in assets under management. The transaction was previously announced in July 2021 in which Aquiline executed a carve-out of Avera eCare from Avera Health and renamed the Company Avel eCare.

Doug Duskin will be joining the company as Chief Executive Officer and Don Yish has been named Chief Revenue Officer. Deanna Larson will remain with the Company as President of Clinical Operations and will drive the clinical expansion strategy. The rest of the Company's core leadership team remains in place. Avel eCare's more than 230 employees will continue to work for the Company at the firm's headquarters in Sioux Falls, S.D.

Duskin is an experienced health care executive with a proven track record of working with high-potential companies to leverage new opportunities, expand on existing services, and recognize consistent growth, all while staying mission driven and laser-focused on service. Duskin comes to Avel after spending time leading two separate health care organizations – Change Healthcare and Equality Health.

Yish has more than 30 years of healthcare experience and brings an expertise in business development and company expansion. Yish's experience includes leading teams at Outcomes Health Information Solutions, HMS (Health Management Solutions), and Equality Health.

For the past 28 years, Larson has led Avel eCare through a period of expansive growth, devoting her career to ensuring rural populations receive high quality health care. With her strong vision and leadership, Avel eCare has become a national leader in delivering innovative telemedicine care impacting millions of individuals across the country.

"We are thrilled to formally begin the partnership between Avel eCare and Aquiline," said Doug Duskin, CEO of Avel eCare. "Avel eCare's clinical and technology resources are a great foundation on which to build. We are excited to have the support of Aquiline and together we aim to capitalize on healthcare trends to scale our services and enhance our offerings around the country. This partnership will allow Avel eCare to expand its mission to help ensure that all people, regardless of location, get quality healthcare where and when they need it."

"Avel eCare's mission to become a trusted, well-integrated member for its clinicians, along with its proven track record of providing quality care to underserved communities, aligns well with our expertise in building tech-enabled services businesses," said Jeff Greenberg, Chairman and CEO of Aquiline. "We look forward to partnering with Doug and his management team to navigate the Company's next phase of growth."

About Aquiline

Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, business services, and healthcare industries. The firm had $6.9 billion in assets under management as of June 30, 2021. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.

About Avel eCare

Avel eCare is one of the largest and most comprehensive virtual care providers in the world – partnering with more than 600 health care systems, rural hospitals, outpatient clinics, long-term care facilities, assisted livings, and schools to deliver innovative care in communities across the country. Learn more by visiting our website at https://www.avelecare.com/ecare/

About Avera Health

The Avera Health system has over 19,000 employees and physicians, serving more than 300 locations and 100 communities in a five-state region. Our ministry, our people and our superior value distinguish Avera. We carry on the health care legacy of the Benedictine and Presentation Sisters, delivering care in an environment guided by our values of compassion, hospitality and stewardship. For more information about Avera, visit our website at Avera.org.

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SOURCE Avel eCare