February 11, 2021
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Sonic Boom Wellness (“Sonic Boom”), a provider of corporate wellness technology, in its acquisition by Premise Health (“Premise”), the largest direct healthcare provider and an OMERS portfolio company. Cascadia’s cross sector expertise in both healthcare services and health & wellness lead to an exceptional outcome for Sonic Boom.
Sonic Boom, founded in 2007 by Danna and Bryan Van Noy in Carlsbad, California, is a health-technology company that specializes in creating and implementing corporate wellness programs. The company’s programs empower employees and families to foster healthy habits by focusing on main drivers of behavioral change. Through its integrated health-habit-improvement platform, Sonic Boom provides social-engagement tools, competitions, incentive management solutions, and measurement tools for tracking progress and results. It also facilitates traditional biometric screenings and health assessments within the comprehensive employee wellness hub.
Premise is a leading direct healthcare company, serving over 11 million people across 2,200 of the largest commercial and municipal employers in the U.S. with its unique direct healthcare model. Premise partners with its clients to connect their populations to high-quality, cost-effective healthcare, through both physical and digital access models. With the addition of Sonic Boom, Premise is now able to provide employers and their employees with an interactive wellness platform that complements its digital approach.
“The past year has underscored the importance of supporting employees’ physical, mental, and emotional wellbeing, so they can bring their best selves to work,” Danna Van Noy, Sonic Boom’s co-founder and CEO, said to PE Hub. “We’re excited to join Premise and engage millions of new members through our comprehensive programming, helping them live healthier lives in a fun and exciting way.”
“Danna and Bryan have devoted much of the past 15 years to the creation and development of what has become Sonic Boom Wellness,” commented Eric Coonrod, Senior Vice President at Cascadia. “It is such a pleasure to know that their vision will live on in the capable hands of the team at Premise Health.”
“The Cascadia team worked tirelessly to see this deal through to the end and were especially helpful in dealing with the stress and emotional ups and downs of a transaction process,” said Bryan Van Noy, Sonic Boom’s co-founder and President. “I can’t imagine working with a more professional, knowledgeable, dedicated, and thoughtful team.”
The acquisition represents another successful transaction for the Cascadia Healthcare team. Past transactions include Concord Technologies’ minority sale to Excellere Partners, Providence’s acquisition of Acclara Solutions, and investments in ADURO.
For more information about this transaction, please contact Cascadia Capital’s Healthcare team:
Senior Vice President