Bain Capital Private Equity has announced it will acquire a majority stake in InnovaCare Health.

InnovaCare, based in White Plains, N.Y., is a provider of integrated and value-based healthcare services. InnovaCare states that its integrated primary care provider network treats more than 250,000 patients annually, and the company also supports physicians who collectively serve more than 27,000 Medicare Advantage members.

Bain Capital Private Equity, based in Boston, focuses on making control and minority equity investments and prefers to make more substantial investments from a dollars perspective. Founded in 1984, the firm invests in healthcare and several other industries, targeting companies with revenue of at least $100 million. Within healthcare, Bain Capital Private Equity targets companies in the provider services, hospital/major facilities, life sciences/pharmaceutical and non-reimbursement industries.

Summit Partners, which has been an investor in InnovaCare since 2019, will retain equity ownership in the company. With U.S. offices in Boston and Menlo Park, Calif., Summit pursues opportunities in healthcare services, healthcare technology and life sciences as well as in other growth sectors. The firm targets growth equity and fixed income investments of $10 million to more than $500 million per company.

Terms of the transaction were not disclosed.