This round is the latest in a string of similar investments within the health tech space for Warburg Pincus. The global growth equity PE group has poured in excess of $12 billion and $22 billion to date into health care and technology companies respectively, including Alignment Healthcare, Experity, Intelligent Medical Objects, Modernizing Medicine, and Outset Medical.
B Capital and Foresite Capital, as well as existing supporters New Enterprise Associates (NEA) and Flare Capital Partners joined the fundraise, thereby bringing it to a total of $212 million to date.
“In a post-Covid era, we have an imperative to use rapid, rigorous evidence to inform health care decisions,” said Aetion CEO Carolyn Magill. The company also aims to expand its European and Asian-Pacific footprint as well as growing its commercial team in order to serve the growing demand from biopharma and medical device/diagnostics customers.
