Providence Equity Partners to Acquire Majority Stake in CheckedUp, Accelerating the Next Phase of Growth for Leading Specialty Point-of-Care Engagement Platform

Varsity Healthcare Partners to join as strategic minority investor; CheckedUp co-founders Dr. Richard Awdeh and Mark Awdeh to continue leading the company

NEW YORK & PROVIDENCE, R.I.--(BUSINESS WIRE)--Providence Equity Partners L.L.C. ("Providence"), a specialist private equity firm focused on media, communications and education, today announced that it has agreed to acquire a majority stake in CheckedUp, a leading specialty point-of-care education and engagement platform connecting patients, healthcare providers and life sciences companies within the clinical environment.

Providence is acquiring CheckedUp alongside co-founders Dr. Richard Awdeh and Mark Awdeh, who will continue to lead the company, and Varsity Healthcare Partners ("Varsity"), a private equity firm focused on healthcare services.

Founded in 2012 by ophthalmologist Dr. Richard Awdeh, formerly of Bascom Palmer Eye Institute, and Mark Awdeh, CheckedUp was built on the belief that better access to relevant, clinically aligned information can help patients and healthcare professionals have more informed conversations about care. As a physician-founded company, CheckedUp has developed its platform specifically around the needs of specialty healthcare environments, delivering educational and brand content through a proprietary digital network of waiting-room televisions and interactive exam-room wallboards.

Today, CheckedUp reaches more than 17,000 specialty healthcare providers and 15 million patients. The platform works with the majority of the top 40 pharmaceutical manufacturers, delivering clinically relevant education and brand information at the point of care, where important healthcare decisions are made.

The partnership with Providence and Varsity is expected to support CheckedUp's continued growth, including expansion of its provider network and therapeutic-area footprint, investment in new products and technology, and advancement of its measurement, data and analytics capabilities. Together, the partners intend to build on CheckedUp's differentiated position in specialty point of care while creating new opportunities to deliver value to patients, providers and life sciences companies.

Lucy Dobrin, Managing Director at Providence, said, "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. We are excited to partner with Richard, Mark and the team to expand CheckedUp's reach, capabilities and impact."

The investment builds on Providence's track record of investing in premium advertising and digital out-of-home platforms, including OUTFRONT Media, DoubleVerify and Smartly.io.

Michael Dominguez, Senior Managing Director and Chief Investment Officer at Providence, added, "Point of care is an increasingly strategic part of the healthcare marketing ecosystem, and we believe CheckedUp is well positioned to lead that evolution. Our experience scaling media and technology businesses, combined with CheckedUp's healthcare expertise, creates a strong foundation for growth."

Varsity will join as a strategic minority investor, bringing additional healthcare investment and growth expertise to support CheckedUp's long-term strategy.

Dr. Richard Awdeh, Co-Founder and CEO of CheckedUp, said, "We have built CheckedUp around a clear vision: to create more meaningful connections among patients, providers and life sciences companies within the care environment. This partnership gives us the opportunity to accelerate that vision, expand our impact and continue raising the standard for trust, transparency and accountability in point of care."

Mark Awdeh, Co-Founder of CheckedUp, added, "This next chapter is about accelerating growth—expanding our network and therapeutic reach, advancing innovation and strengthening our data and measurement capabilities. With Providence and Varsity, we have the experience and resources to move faster while remaining focused on delivering greater value across the healthcare ecosystem."

Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026.

Moelis & Company LLC served as financial advisor, Greenberg Traurig and Honigman served as legal counsel to CheckedUp. Debevoise & Plimpton served as legal counsel and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo served as regulatory counsel to Providence and Varsity.

About CheckedUp

CheckedUp is a leading healthcare media company operating at the specialty point of care, connecting patients, healthcare providers and life sciences companies within high-value specialty care environments. Founded by physicians for physicians and their patients, CheckedUp delivers clinically relevant education and brand content through a proprietary, fully digital network across specialty care environments.

Purpose-built for the unique needs of healthcare, CheckedUp combines clinical relevance, technology, data and trusted measurement to enable meaningful engagement where care is delivered, and healthcare decisions are made. Building on its healthcare expertise and Providence's deep experience across media and technology, CheckedUp is positioned to accelerate the evolution of point of care as a more strategic, measurable and accountable healthcare media channel.

About Providence Equity Partners L.L.C.

Providence Equity Partners L.L.C. is a leading middle-market private equity firm with deep sector expertise in media, communications and education focused on North America and Europe. Providence looks to invest in businesses that are benefiting from the long-term growth trends around experiences, learning and connectivity by partnering with exceptional management teams to build enduring, scaled companies.

Founded in 1989 in Providence, Rhode Island, the firm has invested over $40 billion across more than 180 portfolio companies with a transatlantic investment team based primarily in London, New York and Boston. Through disciplined portfolio construction, prudent risk management and a collaborative culture, the firm seeks to deliver strong results across market cycles.

About Varsity Healthcare Partners

Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP's investment strategy emphasizes partnering with growth-oriented companies and management teams to drive operational enhancement and long-term value creation. Its investment approach and track record are complemented by a collaborative culture, strong professional accountability and a commitment to excellence.