Houlihan Lokey Advises Relevate Health

Houlihan Lokey is pleased to announce that Mountaingate Capital (Mountaingate), a Denver-based private equity firm focused on partnering with founders and entrepreneurs to execute transformative growth strategies in the lower middle market, has exited its investment in Relevate Health (Relevate), a leading healthcare commercialization platform serving pharmaceutical, biotechnology, medical device, and healthcare organizations. The transaction closed on August 5, 2026. The terms of the transaction were not disclosed.

Relevate is a leading healthcare commercialization platform helping pharmaceutical, biotechnology, medical device, and healthcare organizations create greater relevance, stronger engagement, and measurable business outcomes.

Powered by its proprietary ELE Decision Engine®, Relevate combines advanced analytics, artificial intelligence, first-party healthcare data, and integrated commercialization capabilities to help clients deliver the right message, through the right channel, at the right time. Relevate’s platform spans commercialization strategy, Point of Clinical Decision engagement, Point of Learning activation, medical communications, omnichannel marketing, media, technology, gaming, and analytics, helping life sciences organizations accelerate commercial performance and improve patient outcomes.

“We aligned with Mountaingate around an ambitious shared vision for growth and they steadfastly supported that plan. Mountaingate’s style of founder-friendly growth investing paired with their consistent reinforcement of our culture created an ideal partnership,” commented Jeff Spanbauer, Co-Founder and Chairman.

“We’re grateful to Mountaingate for their partnership and support throughout an important chapter in Relevate’s growth. Their investment helped strengthen our platform, expand our capabilities, and position the company for this exciting next phase,” added Tim Pantello, CEO.

Bruce Rogers, Co-Founder and Managing Director of Mountaingate, noted, “It has been tremendously rewarding to support the world-class management team at Relevate as they executed the plan we collectively envisioned at the outset of our partnership. We have no doubt they will continue to set the standard within the pharmaceutical commercialization space and we look forward to following their next phase of growth.”

Mountaingate is a Colorado-based private equity firm that specializes in partnering with founders and entrepreneurial companies to accelerate growth and build industry leaders. Mountaingate’s focus on organic growth (coupled with its customer-centric buy-and-build approach for add-on acquisitions) and shared equity ownership with management create more value for the end customer, while forging stronger, more collaborative, and more successful investment partnerships with management teams. With over $1.2 billion of assets under management, Mountaingate targets investments in marketing services, business services, specialty manufacturing, and distribution.

Houlihan Lokey served as exclusive financial advisor to Relevate and Mountaingate. This deal highlights Houlihan Lokey’s leading experience in the pharma commercialization space and represents the firm’s 35th transaction in this sector since 2019.

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