Healthcare growth capital private equity firm
Peloton Equity
- HeadquartersGreenwich, CT S9
- Founded2014 S1
- Websitepelotonequity.com
- Last verifiedNovember 6, 2026
At a glance
| Latest fund | Peloton Equity II, L.P., $152.3M (Feb 2021) S9 |
|---|---|
| EBITDA range | Up to $10M S1 |
| Revenue range | $10M to $200M S1 |
| Deal types | Growth, Platform, Add-on S1 |
| Sectors | Healthcare Services, Software & SaaS |
What Peloton Equity buys
Peloton Equity is a Greenwich, Connecticut firm that puts growth capital only into healthcare. It began in 2014 as the successor to Ferrer Freeman & Company. It places itself after venture capital and before a buyout: companies with a proven model, usually $10 million to $200 million of revenue, and anything from a $10 million EBITDA loss to $10 million of EBITDA. It wants businesses that can grow three to five times or more. It publishes no check size, and its last announced fund was $152.25 million in 2021.
Peloton does take control at times, but that is not its default. It bought a majority of HealthPlanOne with management in 2014 and a majority of Grenova with co-investors in 2022. Its two newest platforms were growth rounds it led, with no stake stated: OnPoint Healthcare Partners in January 2024 and Ria Health in March 2025. A smaller company could also meet it as an add-on, as Peak Robotics did with Grenova in November 2025.
Recent deals
Announced in the 24 months before November 6, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Nov 2025 | Peak Robotics Inc.Maker of laboratory automation robots and hardware, added to Grenova | Add-on | Industrial & Manufacturing | Source |
| Jul 2025 | Arcadia SolutionsNordic Capital to become majority owner of the healthcare data analytics company, ten years after Peloton first invested | Exit | Software & SaaS | Source |
| Mar 2025 | Ria HealthLed the Series B in this telehealth alcohol use disorder treatment provider; a Peloton partner joined the board and earlier investors took part | Growth | Healthcare Services | Source |
Portfolio by sector
From the firm's portfolio page S1.
From the firm's news page
- Ria Health
Peloton Equity investments
- AeroSafe Global
- ClearSky Health
- Grenova
- Journey Health & Lifestyle Brands
- OnPoint Healthcare Partners
Past investments: HPOne, Arcadia Solutions, AeroCare, ID Experts
Greymont’s take
How Peloton Equity fits a seller
This buyer suits healthcare founders whose companies are growing fast, and may still be losing money, who want capital and a network of healthcare executives more than a full exit. Its range reaches companies a typical buyout firm would pass on because EBITDA is small or negative.
Most of its recent deals are growth rounds, so expect much of the money to go into the company rather than to the seller. Where it has taken a majority, as at HealthPlanOne, the founder kept significant ownership and stayed in charge. Peloton also says it has added more than 50 board members and senior executives after investing, so plan on a more formal board.
Owners should ask whether Peloton wants a majority or a minority stake, how much cash reaches sellers at close, and how much capital it has left for new companies.
Questions owners ask
Does Peloton Equity buy control of companies?
Sometimes. It acquired a majority of HealthPlanOne with management in 2014 and a majority of Grenova with co-investors in 2022. Its newest platforms, OnPoint Healthcare Partners and Ria Health, were growth rounds it led, and neither announcement gives Peloton's stake.
Will Peloton Equity invest in a company that is losing money?
Yes. Its site describes targets with EBITDA from a $10 million loss to $10 million of profit at investment, usually alongside $10 million to $200 million of revenue, so a loss alone does not rule a company out.
Does Peloton Equity back founder-owned companies?
Yes. HealthPlanOne's founder kept significant ownership and stayed on as CEO after Peloton's 2014 investment, and Grenova and OnPoint Healthcare Partners were both still led by their founders when Peloton invested.
Does Peloton Equity make add-on acquisitions?
Yes, through its portfolio companies, though not often. Grenova bought Peak Robotics in November 2025, and Arcadia bought CareJourney in 2024 before Peloton's sale to Nordic Capital. Its site lists acquisitions as part of how it scales companies.
Sources
- S1Peloton Equity home page (about, approach, investments) Accessed November 6, 2026
- S2Peloton Equity: News Accessed November 6, 2026
- S3Ria Health Raises Growth Capital (posted March 6, 2025) Accessed November 6, 2026
- S4Grenova Acquires PRI (November 18, 2025) Accessed November 6, 2026
- S5Peloton Equity Announces Sale of Arcadia Solutions (July 21, 2025) Accessed November 6, 2026
- S6Peloton Equity Leads Growth Investment in OnPoint Healthcare Partners (January 25, 2024) Accessed November 6, 2026
- S7Peloton Announces Growth Recapitalization of Grenova (March 21, 2022) Accessed November 6, 2026
- S8HealthPlanOne Is the First Investment for Peloton Equity (December 16, 2014) Accessed November 6, 2026
- S9Peloton Equity Closes Fund II at $152.25 Million (February 11, 2021) Accessed November 6, 2026
- S10HPOne Announces Growth Recapitalization (June 22, 2020) Accessed November 6, 2026
- S11Arcadia Acquires CareJourney (June 28, 2024) Accessed November 6, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Peloton Equity. Figures are as reported on the dates shown and may have changed. Request a correction