GovCIO has expanded its role within the Department of Veterans Affairs by acquiring SoldierPoint Digital Health from Iron Bow Technologies, a portfolio company of H.I.G. Capital. The deal strengthens GovCIO’s veteran-focused capabilities while concluding H.I.G.’s successful repositioning of SoldierPoint into a leading telehealth provider.
Expanding GovCIO’s VA Footprint
The acquisition brings nearly 300 SoldierPoint employees into GovCIO’s workforce and transfers control of digital health services that reach more than 2.7 million veterans nationwide. While financial terms were not disclosed, the deal highlights how government contractors are consolidating their capabilities as the VA increasingly embraces digital health solutions.
“This acquisition represents the addition of important capabilities that enhance our ability to support the mission of our largest client, the Department of Veteran Affairs,” said Joe Cormier, GovCIO’s chief operating officer and chief financial officer.
SoldierPoint will be integrated into GovCIO’s Veteran and Enterprise Technology Solutions division, led by Kristin Gill. The company plans to use its experience with artificial intelligence, low-code/no-code platforms, and emerging technologies to expand the VA’s telehealth infrastructure and modernize care delivery.
From Hardware Program to Digital Health Provider
SoldierPoint’s growth story illustrates H.I.G. Capital’s approach to operational value creation. When the private equity firm acquired Iron Bow Technologies, SoldierPoint functioned largely as a hardware-based telehealth program for the VA. Working alongside Iron Bow’s management, H.I.G. transformed it into a comprehensive digital health services platform.
The division more than doubled its earnings during H.I.G.’s ownership while scaling its technological infrastructure. Today, SoldierPoint delivers a broad suite of digital care services under the seven-year, $2 billion Connected Care Integrated Network (CCIN) contract, which supports more than 4 million veterans across the United States.
“This transaction reflects the successful partnership between Iron Bow and H.I.G. in building SoldierPoint into a premier provider of digital health solutions for the VA,” said Rene LaVigne, CEO of Iron Bow Technologies.
A Track Record of Healthcare Technology Exits
For H.I.G. Capital, the divestiture represents another successful healthcare technology exit. The firm, which manages $70 billion in capital, has long specialized in identifying middle-market companies with the potential to scale through operational improvements and targeted investment.
“We’ve facilitated strategic investments to expand SoldierPoint’s role in delivering mission-critical, digital health and telemedicine services to the VA,” said Jeff Zanarini, Managing Director at H.I.G. Capital. Jonathan Fox, also a Managing Director, noted the collaboration with Iron Bow’s leadership: “SoldierPoint’s success is a testament to the strength of the management team and H.I.G.’s ability to support long-term growth.”
Refocusing for Future Growth
The sale also allows Iron Bow Technologies to sharpen its focus. By divesting SoldierPoint, the company can concentrate resources on its core IT solutions and government contracting businesses while entrusting SoldierPoint’s next stage of growth to GovCIO.
“GovCIO is uniquely positioned to support SoldierPoint’s future, and this divestiture positions Iron Bow to accelerate efforts within our core IT solutions business,” LaVigne said.
A Consolidating Sector
The transaction reflects a broader trend in government healthcare technology: consolidation. Contractors are expanding their footprints by acquiring specialized platforms to meet the VA’s growing demand for modernized, integrated services. SoldierPoint’s combination of scale, contract coverage, and technological capabilities made it an attractive asset for GovCIO, which already maintains a substantial VA presence.
Jefferies served as financial advisor on the transaction, while McDermott Will & Emery provided legal counsel.
Long-Term Strategy
Founded in 1993, H.I.G. Capital has invested in more than 400 companies worldwide and today operates from offices across the Americas, Europe, Latin America, and Asia. Its portfolio companies collectively generate more than $53 billion in annual revenue.
The SoldierPoint exit adds to H.I.G.’s track record of reshaping companies through operational improvements and sector expertise. For GovCIO, the acquisition enhances its ability to deliver digital healthcare for millions of veterans. And for the VA, it signals that the private sector’s role in modernizing veteran healthcare infrastructure is only set to grow.
