Blackstone in Talks to Back Carbon Health at $3 Billion Valuation
- Capital Group discussing participating in $300 million round
- San Francisco startup held, then dropped, SPAC merger talks
Carbon Health Technologies Inc., a startup that provides in-person and virtual health-care services, is in talks for new funding at a valuation of roughly $3 billion after shelving talks to go public through a blank-check company, according to people with knowledge of the matter.
The San Francisco-based company is discussing raising a roughly $300 million round from investors including Blackstone Group Inc. and Capital Group, one of the people said. The funding, which will be used to acquire additional clinics, emerged as a preferred alternative to a merger with a special purpose acquisition company, which the company explored, said people familiar with the matter. Terms of the funding round haven’t been finalized and it’s possible they could change.