Bambu Ventures Establishes SPV to Acquire Lemonaid Health Share

Acquisition positions Lemonaid Health to accelerate growth as an independent telemedicine and pharmacy platform

Chrome Holding Co. (formerly operating as “23andMe Holding Co.”) has announced it has entered into a Stock Purchase Agreement with Bambu Ventures. Through the creation of a Special Purpose Vehicle (SPV) formed in partnership with Innova Capital Partners, the SPV will acquire 100% of the equity of Lemonaid Health, Inc. and Lemonaid Pharmacy Holdings, Inc., pending approval by the United States Bankruptcy Court for the Eastern District of Missouri.

Bambu Ventures and Innova began collaborating nearly four months ago on the pursuit of Lemonaid Health. Together, the partners plan to expand the company’s on-demand telemedicine and online pharmacy services, building on its original mission of empowering patients with easier, faster access to care.

“This acquisition is an incredible outcome for our portfolio, and we are thrilled to support Lemonaid Health’s next phase of growth,” said Kyle Pretsch, general partner at Bambu Ventures. “We are committed to advancing Lemonaid’s vision and expanding its reach to create an exceptional consumer healthcare experience.”

Lawrence Jacobs, co-managing partner of Innova, added, “We look forward to working alongside Bambu Ventures to enhance Lemonaid’s offerings, improve patient care and accelerate telehealth adoption in the U.S. and beyond.”

Bambu Ventures will provide executive leadership to the new entity through general partners Richard Hearn and Kyle Pretsch, with Dylan Runne joining Innova principals on the Board of Directors.

“We are excited to pair vision with operational excellence, bringing Lemonaid back to an aggressive growth mindset,” said Richard Hearn, general partner at Bambu Ventures, who will also serve in an operational leadership role.

Founded in 2013, Lemonaid Health has been a pioneer in telehealth, offering affordable, direct access to care for a wide range of common conditions. Its platform provides both medical consultations and same-day prescription delivery, making healthcare more convenient, efficient and accessible for patients nationwide.

Goldenberg Heller & Antognoli P.C. served as legal counsel to the SPV. Collins Law Offices advised BambuMeta Ventures.

Content sourced from Businesswire. To learn more, contact press@bambuventures.com.