Greater Baton Rouge Business Report | California Firm Acquires Franciscan Health and Wellness Services
The Innovation Institute, a California firm that invests in and helps grow cutting-edge companies in the healthcare sector, has acquired Franciscan Health and Wellness Services, a health solutions and wellness company that was founded and owned by Franciscan Missionaries of Our Lady Health System.
Terms of the acquisition, which closed earlier this month, were not disclosed. But officials with all three entities involved say the transaction is a proverbial win-win-win.
For the former Franciscan Health and Wellness Services—which has been rebranded since the sale as inHealth Strategies—the acquisition by The Innovation Institute represents an opportunity to grow to a national level. inHealth Strategies currently works with 100,000 individuals in 13 states and has revenues of some $2.5 million. Company President Dr. Stephanie Mills says plans call for increasing revenues by 25% this year, and entering new markets around the country. More…