Providence Equity Acquires Stake in CheckedUp

Providence Equity Partners is set to acquire a controlling interest in CheckedUp, a specialized platform focused on patient and provider engagement at the point of care. This strategic move signals a significant investment in the intersection of healthcare and digital media, leveraging CheckedUp's established network within clinical settings.

The transaction sees Providence partnering with CheckedUp's co-founders, Dr. Richard Awdeh and Mark Awdeh, who will continue to steer the company's operations. Additionally, Varsity Healthcare Partners, a firm with a dedicated focus on healthcare services, will join as a strategic minority investor. This collaborative approach aims to bolster CheckedUp's growth trajectory by enhancing its provider network, expanding into new therapeutic areas, and advancing its technological and data analytics capabilities.

Founded in 2012 by ophthalmologist Dr. Richard Awdeh, CheckedUp has cultivated a unique digital network designed to deliver clinically relevant educational and brand content directly to patients and healthcare professionals. The platform utilizes a network of waiting room televisions and interactive exam room displays to facilitate more informed discussions about medical treatments and conditions. Currently, CheckedUp engages with over 17,000 specialty healthcare providers and reaches an estimated 15 million patients, working with a majority of the top 40 pharmaceutical manufacturers.

This investment aligns with Providence's broader strategy of backing premium advertising and digital out-of-home platforms, building on its prior successes with companies like OUTFRONT Media, DoubleVerify, and Smartly.io. Lucy Dobrin, Managing Director at Providence, highlighted CheckedUp's differentiated position, stating, "We believe CheckedUp has built a differentiated platform at one of the most important points in the healthcare journey. Its specialty focus, clinically relevant engagement and scaled presence create a compelling value proposition."

The point-of-care advertising market is experiencing considerable growth, driven by the increasing need for targeted and measurable patient engagement strategies. With an estimated market size projected to reach billions in the coming years, CheckedUp's model is well-positioned to capture a significant share. Michael Dominguez, Senior Managing Director and Chief Investment Officer at Providence, commented on this strategic alignment, noting, "Point of care is an increasingly strategic part of the healthcare marketing ecosystem, and we believe CheckedUp is well positioned to lead that evolution."

The partnership is expected to accelerate CheckedUp's expansion, focusing on enhancing its data and measurement tools to provide greater accountability and transparency in healthcare communications. The co-founders expressed enthusiasm for the new chapter, with Mark Awdeh emphasizing the goal of "accelerating growth—expanding our network and therapeutic reach, advancing innovation and strengthening our data and measurement capabilities." The transaction is anticipated to close in the third quarter of 2026, with financial advisory services provided by Moelis & Company LLC.