Healthcare SPAC Raises $ 250 Million

Healthwell is a specialized purchasing company, or blank check firm, that collects money from investors in public markets to acquire one or more healthcare technology, medical technology and wellness services businesses yet to be determined. …

The popularity of SPAC has skyrocketed over the past two years amid an oversupply of capital. 389 SPAC offers were completed this year, raising $ 117.3 billion, up from 248 deals worth $ 83.4 billion for all of 2020, according to data SPACInsider. Nine deals were closed last week, the most since early June, signaling renewed investor interest in SPAC.

Radcliffe Capital Management, a Philadelphia-based hedge fund that often invests in SPAC, owns nearly 10 percent of Healthwell, according to securities filings.

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