Pyx Health Acquires FarmboxRx
Pyx Health, a health care engagement company focused on vulnerable, hard-to-reach populations, has acquired FarmboxRx, which pioneered fresh fruits and vegetables as a covered health intervention. The acquisition was enabled by a $47.5 million investment from S2G Investments (S2G), a multistage investment firm focused on scaling solutions across food and agriculture, energy and oceans, in strategic partnership with health care private-equity firm TT Capital Partners, which first invested in Pyx Health in 2023. The deal combines the companies’ deep domain knowledge in health care and food systems to spur innovation at the intersection of two traditionally siloed sectors.
Both Pyx Health and FarmboxRx are dedicated to improving health outcomes for vulnerable populations through personalized, scalable support. Pyx Health’s mentor-driven care navigation model addresses such non-medical drivers of health (NMDOH) as loneliness and other support needs, while FarmboxRx delivers customized food boxes tailored to specific health conditions and goals.
[RELATED: FarmboxRx Launches Social Needs Platform to Address Critical Health Gaps]
By integrating nutritional support into care pathways, the combined platform aims to tackle food insecurity — the top social barrier identified by Pyx Health members — while allowing health plans to incentivize behaviors like scheduling preventive visits and completing health assessments.
“Many health plans have the goal of increasing member engagement to help close care gaps, but to do this, first you have to build trust,” said Cindy Jordan, CEO and co-founder of Tucson, Ariz.-based Pyx Health. “That’s where Pyx Health comes in, and bringing FarmboxRx under our umbrella is a catalyst for this by showing our members we care about helping them meet critical needs. Simply put, our food boxes literally help to put food on the table while also opening the door to deeper relationships and health care engagement. By utilizing food as an entry point, we can bring everyone together.”
“FarmboxRx exists to address the root causes of health disparities among the populations we serve,” added Ashley Tyrner-Dolce, founder and CEO of Boston-based FarmboxRx. “Building it has been an immensely personal and passionate journey for my team and me, and to pass it on to a company like Pyx Health, which is equally passionate about meeting people where they are to improve health outcomes, is especially exciting.”
S2G’s investment will permit Pyx Health to serve more members, particularly in the Medicare, dual-eligible and exchange populations.
“Pyx Health and FarmboxRx are a natural match — both are mission-driven, outcomes-oriented and laser-focused on advancing health equity through innovation,” observed Dan Ripma, VP at S2G, which has offices in Chicago, San Francisco and Boston. “We’re proud to back this union and help catalyze its next phase of growth. We believe this partnership will set a new bar for how technology and human connection can come together to transform health engagement.”
According to Pyx Health and FarmboxRx, the deal reflects a wider trend toward personalized, relationship-based engagement models that address health-related social needs while recognizing food solutions as powerful drivers of measurable improvements in cost, quality and access.
Brownstein Hyatt Farber Schreck LLP provided legal advice to Pyx Health, and Oppenheimer & Co. Inc. was the exclusive financial advisor to Farmbox Direct Inc. on its sale to Pyx Health.
