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Puzzle Healthcare

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uuid00eudr9

Namestring
Puzzle Healthcare
Legal namestring
Puzzle
Company typeenum
Private
Founded yearint
2022
Descriptiontext

Puzzle Healthcare is a Detroit-based, privately held post-acute care coordination platform founded in 2022 that operates a B2B service model for hospitals, skilled nursing facilities (SNFs), and payors across 15 U.S. states. The company's core offering combines embedded on-site physiatry at SNFs with disease-specific care managers who follow patients from hospital discharge through the SNF stay and continue management for 90 days post-SNF discharge. Its technology stack centers on a proprietary Post-Discharge Tracker that gives health systems visibility into patient health during SNF stays and the 90-day post-discharge window, supplemented by HIPAA-secure instant messaging for care team coordination and structured risk stratification to prioritize interventions aimed at reducing 30-, 60-, and 90-day hospital readmissions.

The platform currently spans 230 SNF deployments, 60+ hospital collaborations, and 18,000–24,000 patients annually in Michigan alone, and is being expanded nationally with growth capital from HCAP Partners (invested December 2025; amount undisclosed). Puzzle sells directly to hospital C-suites, SNF administrators, and payor executives through enterprise field sales, with contracts structured around value-based care outcomes and shared-savings economics rather than disclosed list pricing. The go-to-market motion is anchored in measurable clinical and financial outcomes—readmission reduction, length-of-stay optimization, and total cost of care reduction—and is supported by participation in healthcare industry events, earned media from investment announcements, and an Ernst & Young Entrepreneur of the Year 2026 Michigan/Northwest Ohio award.

The company is HIPAA-compliant, operates with a headcount in the 101–250 range, and competes in the more than $60 billion annual Medicare post-acute market shaped by aging demographics and value-based care reimbursement pressure. Its competitive positioning rests on the vertical integration of physiatry, care management, and post-discharge tracking within a single operating model, generating a proprietary outcomes dataset across its SNF network that compounds over time. Revenue and detailed financial metrics are not publicly disclosed.

Short descriptiontext

Puzzle Healthcare is a Detroit-based, value-based post-acute care coordination platform that embeds on-site physiatry and 90-day care management across 230 skilled nursing facilities in 15 states, serving hospitals, SNFs, and payors with a proprietary Post-Discharge Tracker to reduce readmissions.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersDetroit, United States
HQ citystring
Detroit
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
post-acute care coordination, value-based care services, skilled nursing facility support, hospital readmission reduction, on-site physiatry services
Industry3 codes
1Transitions of Care Management (Hospital/SNF/Home)
CodeHLADALADPrimaryYes
2Post-Acute & Transitional Care Virtual Platforms (SNF/home health coordination)
CodeHLALABAGPrimaryNo
3Skilled Nursing Facilities (SNF)
CodeHLAFAFABPrimaryNo
NAICS code3 codes
  • Services for the Elderly and Persons with Disabilities62412
  • Services for the Elderly and Persons with Disabilities624120
  • Computer Systems Design and Related Services54151
SIC code3 codes
  • Services-Skilled Nursing Care Facilities8051
  • Services-Health Services8000
  • Services-Computer Programming, Data Processing, Etc.7370
Product category
Post-Acute Care Coordination Services
Social media profiles1 record
GTM motion2 records

Each record includes

Type, Description, Source

Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Puzzle Healthcare is a post-acute care coordination platform that combines on-site physiatry at skilled nursing facilities (SNFs) with a 90-day dedicated post-discharge care management program spanning hospital discharge, SNF stay, and the 90-day period post-SNF discharge. The platform serves hospitals, SNFs, and payors across 15 states through 230 SNF deployments, using disease-specific care managers, risk stratification, and a proprietary Post-Discharge Tracker to reduce hospital readmissions and total cost of care under value-based arrangements.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 3 values shown
  • Remarkable results in reducing readmission rates across 230 SNFs in 15 states
+2 more records
Product overview1 text field

Puzzle Healthcare operates as a post-acute care coordination platform offering a unified suite of services across Hospital Services, SNF Services, Payor Services, and On-Site Physiatry. The platform centers on a 90-day dedicated care management approach that guides patients from hospital discharge through SNF stay and continues support post-discharge. Key technology tools include the Proprietary Post-Discharge Tracker for patient monitoring and HIPAA-secure messaging for care coordination. Services are delivered through disease-specific care managers and on-site physiatry providers who conduct risk stratification, pain management, and therapy coordination. The architecture is modular, with Hospital Services, SNF Services, and Payor Services representing distinct customer segments, while On-Site Physiatry, Proactive Care Management, and Integrated Care Management function as delivery mechanisms across all segments.

Product and service5 records
1Hospital Services
CategoryCare Coordination Services
Description

Post-acute care coordination service for hospitals that delivers readmission prevention, seamless care transitions, and enhanced post-discharge visibility, helping hospital partners reduce readmission penalties under value-based care arrangements.

2SNF Services
CategoryCare Coordination Services
Description

Care coordination and management service for skilled nursing facilities (SNFs) that delivers enhanced patient care quality, admission streamlining, length-of-stay management, therapy coordination, and improved facility performance metrics.

3Payor Services
CategoryValue-Based Care Services
Description

Value-based care coordination service for health payors that reduces total cost of care through risk-adjusted, outcome-focused interventions, readmission diversion strategies, and proactive post-acute care management.

4On-Site Physiatry
CategoryClinical Staffing Services
Description

On-site physiatry provider service embedded within partner skilled nursing facilities that conducts in-depth patient assessments, risk stratification, pain management, therapy coordination, and Medicare meeting participation to reduce readmissions and elevate SNF care quality.

5Proprietary Post-Discharge Tracker
CategoryCare Coordination Software
Description

Proprietary software tool that provides health systems with comprehensive visibility into each patient's well-being post-discharge, delivering in-depth insights into patient health during SNF stays and for 90 days post-SNF discharge to enable timely interventions and reduce readmission risks.

Scale indicator5 records

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeEmerging player
Description

Healthcare technology company providing care coordination, analytics, and post-acute software to hospitals, SNFs, and home health agencies. Comparable in serving the same buyer base across the post-acute continuum, though positioned as software rather than a services-led coordinator.

TypeEmerging player
Description

Value-based kidney care company partnering with health systems and payors to manage CKD/ESRD populations. Comparable in deploying interdisciplinary care teams and risk-bearing contracts for complex Medicare populations, though specialized to nephrology.

TypeBroad incumbent
Description

Integrated care delivery subsidiary of Anthem serving complex Medicare and Medicaid patients through coordinated clinical programs. Comparable in serving high-need senior populations with interdisciplinary care models, though operating at scale within a national payor.

TypeDirect peer
Description

Value-based care company focused on Medicare Advantage seniors through partnerships with primary care physicians. Comparable in targeting senior populations, value-based reimbursement, and B2B partnership model with provider organizations.

TypeDirect peer
Description

Post-acute care coordination platform owned by Optum that partners with health plans and providers to manage post-acute outcomes. Most directly comparable to Puzzle given overlapping value-based post-acute model and buyer base (payors, hospitals, SNFs).

TypeBroad incumbent
Description

Physician practice enablement and value-based care platform working with medical groups and health systems. Comparable B2B enterprise sales model into provider organizations, with a growing emphasis on risk-bearing arrangements for senior populations.

TypeDirect peer
Description

Value-based care platform that partners with independent primary care practices and health systems to take on risk-based contracts. Comparable B2B sales motion into hospitals and providers with a data-driven, outcome-based model serving Medicare populations.

TypeBroad incumbent
Description

Operator of inpatient rehabilitation hospitals serving post-acute recovery needs. Comparable in the post-acute care continuum and partnerships with hospitals and SNFs, though focused on facility-based IRF care rather than care coordination services.

TypeEmerging player
Description

Value-based care provider for high-need, dual-eligible seniors in home and post-acute settings. Comparable focus on complex Medicare populations, interdisciplinary care teams, and risk-based contracts with payors.

TypeBroad incumbent
Description

Humana's care delivery arm that includes home health, primary care, and pharmacy serving complex Medicare patients. A scaled incumbent with overlapping capabilities in post-acute and senior care coordination, though operating as part of a much broader portfolio.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
Compliance1 record

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors1 record

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Puzzle Healthcare

Post-Acute Care Coordination Servicespuzzlehealthcare.com

Puzzle Healthcare is a Detroit-based, value-based post-acute care coordination platform that embeds on-site physiatry and 90-day care management across 230 skilled nursing facilities in 15 states, serving hospitals, SNFs, and payors with a proprietary Post-Discharge Tracker to reduce readmissions.

What Puzzle Healthcare does

Puzzle Healthcare is a Detroit-based, privately held post-acute care coordination platform founded in 2022 that operates a B2B service model for hospitals, skilled nursing facilities (SNFs), and payors across 15 U.S. states. The company's core offering combines embedded on-site physiatry at SNFs with disease-specific care managers who follow patients from hospital discharge through the SNF stay and continue management for 90 days post-SNF discharge. Its technology stack centers on a proprietary Post-Discharge Tracker that gives health systems visibility into patient health during SNF stays and the 90-day post-discharge window, supplemented by HIPAA-secure instant messaging for care team coordination and structured risk stratification to prioritize interventions aimed at reducing 30-, 60-, and 90-day hospital readmissions.

The platform currently spans 230 SNF deployments, 60+ hospital collaborations, and 18,000–24,000 patients annually in Michigan alone, and is being expanded nationally with growth capital from HCAP Partners (invested December 2025; amount undisclosed). Puzzle sells directly to hospital C-suites, SNF administrators, and payor executives through enterprise field sales, with contracts structured around value-based care outcomes and shared-savings economics rather than disclosed list pricing. The go-to-market motion is anchored in measurable clinical and financial outcomes—readmission reduction, length-of-stay optimization, and total cost of care reduction—and is supported by participation in healthcare industry events, earned media from investment announcements, and an Ernst & Young Entrepreneur of the Year 2026 Michigan/Northwest Ohio award.

The company is HIPAA-compliant, operates with a headcount in the 101–250 range, and competes in the more than $60 billion annual Medicare post-acute market shaped by aging demographics and value-based care reimbursement pressure. Its competitive positioning rests on the vertical integration of physiatry, care management, and post-discharge tracking within a single operating model, generating a proprietary outcomes dataset across its SNF network that compounds over time. Revenue and detailed financial metrics are not publicly disclosed.

Puzzle Healthcare firmographics

Firmographics
Name
Puzzle Healthcare
Legal name
Puzzle
Website
https://puzzlehealthcare.com
Company type
Private
Founded year
2022
Operating status
Operating
Headcount range
101–250 employees
Short description
Puzzle Healthcare is a Detroit-based, value-based post-acute care coordination platform that embeds on-site physiatry and 90-day care management across 230 skilled nursing facilities in 15 states, serving hospitals, SNFs, and payors with a proprietary Post-Discharge Tracker to reduce readmissions.
Ownership category
akta.pro rank

Puzzle Healthcare industry classification

Industry
Product category
Post-Acute Care Coordination Services
NAICS
Services for the Elderly and Persons with Disabilities (62412), Services for the Elderly and Persons with Disabilities (624120), Computer Systems Design and Related Services (54151)
SIC
Services-Skilled Nursing Care Facilities (8051), Services-Health Services (8000), Services-Computer Programming, Data Processing, Etc. (7370)
akta.pro primary industry
Transitions of Care Management (Hospital/SNF/Home) (HLADALAD)
akta.pro secondary industries
Post-Acute & Transitional Care Virtual Platforms (SNF/home health coordination) (HLALABAG), Skilled Nursing Facilities (SNF) (HLAFAFAB)

Keywords

  • Post-acute care coordination
  • Value-based care services
  • Skilled nursing facility support
  • Hospital readmission reduction
  • On-site physiatry services

Where Puzzle Healthcare is headquartered

Location

Headquarters

HQ city
Detroit
HQ country
United States
HQ region
North America

Offices2 records

Markets served

Puzzle Healthcare business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Puzzle Healthcare product offering

Product offering

Core offering

Puzzle Healthcare is a post-acute care coordination platform that combines on-site physiatry at skilled nursing facilities (SNFs) with a 90-day dedicated post-discharge care management program spanning hospital discharge, SNF stay, and the 90-day period post-SNF discharge. The platform serves hospitals, SNFs, and payors across 15 states through 230 SNF deployments, using disease-specific care managers, risk stratification, and a proprietary Post-Discharge Tracker to reduce hospital readmissions and total cost of care under value-based arrangements.

Product overview

Puzzle Healthcare operates as a post-acute care coordination platform offering a unified suite of services across Hospital Services, SNF Services, Payor Services, and On-Site Physiatry. The platform centers on a 90-day dedicated care management approach that guides patients from hospital discharge through SNF stay and continues support post-discharge. Key technology tools include the Proprietary Post-Discharge Tracker for patient monitoring and HIPAA-secure messaging for care coordination. Services are delivered through disease-specific care managers and on-site physiatry providers who conduct risk stratification, pain management, and therapy coordination. The architecture is modular, with Hospital Services, SNF Services, and Payor Services representing distinct customer segments, while On-Site Physiatry, Proactive Care Management, and Integrated Care Management function as delivery mechanisms across all segments.

Differentiator

Problem solved

Functional benefit

Products and services

  • Hospital Services Post-acute care coordination service for hospitals that delivers readmission prevention, seamless care transitions, and enhanced post-discharge visibility, helping hospital partners reduce readmission penalties under value-based care arrangements.
  • SNF Services Care coordination and management service for skilled nursing facilities (SNFs) that delivers enhanced patient care quality, admission streamlining, length-of-stay management, therapy coordination, and improved facility performance metrics.
  • Payor Services Value-based care coordination service for health payors that reduces total cost of care through risk-adjusted, outcome-focused interventions, readmission diversion strategies, and proactive post-acute care management.
  • On-Site Physiatry On-site physiatry provider service embedded within partner skilled nursing facilities that conducts in-depth patient assessments, risk stratification, pain management, therapy coordination, and Medicare meeting participation to reduce readmissions and elevate SNF care quality.
  • Proprietary Post-Discharge Tracker Proprietary software tool that provides health systems with comprehensive visibility into each patient's well-being post-discharge, delivering in-depth insights into patient health during SNF stays and for 90 days post-SNF discharge to enable timely interventions and reduce readmission risks.

Quantifiable outcome

  • Remarkable results in reducing readmission rates across 230 SNFs in 15 states
  • +2 more outcomes

Companies that use Puzzle Healthcare

Customer profile

Segments3 records

Ideal customer profiles3 records

Puzzle Healthcare technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

Puzzle Healthcare partnerships and signals

Strategic signal

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Puzzle Healthcare competitors and assessment

Company assessment

Emerging players

  • WellSky: Healthcare technology company providing care coordination, analytics, and post-acute software to hospitals, SNFs, and home health agencies. Comparable in serving the same buyer base across the post-acute continuum, though positioned as software rather than a services-led coordinator.
  • Strive Health: Value-based kidney care company partnering with health systems and payors to manage CKD/ESRD populations. Comparable in deploying interdisciplinary care teams and risk-bearing contracts for complex Medicare populations, though specialized to nephrology.
  • Vesta Healthcare: Value-based care provider for high-need, dual-eligible seniors in home and post-acute settings. Comparable focus on complex Medicare populations, interdisciplinary care teams, and risk-based contracts with payors.

Broad incumbents

  • CareMore Health (Anthem): Integrated care delivery subsidiary of Anthem serving complex Medicare and Medicaid patients through coordinated clinical programs. Comparable in serving high-need senior populations with interdisciplinary care models, though operating at scale within a national payor.
  • Privia Health: Physician practice enablement and value-based care platform working with medical groups and health systems. Comparable B2B enterprise sales model into provider organizations, with a growing emphasis on risk-bearing arrangements for senior populations.
  • Encompass Health: Operator of inpatient rehabilitation hospitals serving post-acute recovery needs. Comparable in the post-acute care continuum and partnerships with hospitals and SNFs, though focused on facility-based IRF care rather than care coordination services.
  • CenterWell (Humana): Humana's care delivery arm that includes home health, primary care, and pharmacy serving complex Medicare patients. A scaled incumbent with overlapping capabilities in post-acute and senior care coordination, though operating as part of a much broader portfolio.

Direct peers

  • Agilon Health: Value-based care company focused on Medicare Advantage seniors through partnerships with primary care physicians. Comparable in targeting senior populations, value-based reimbursement, and B2B partnership model with provider organizations.
  • naviHealth (Optum): Post-acute care coordination platform owned by Optum that partners with health plans and providers to manage post-acute outcomes. Most directly comparable to Puzzle given overlapping value-based post-acute model and buyer base (payors, hospitals, SNFs).
  • Aledade: Value-based care platform that partners with independent primary care practices and health systems to take on risk-based contracts. Comparable B2B sales motion into hospitals and providers with a data-driven, outcome-based model serving Medicare populations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Puzzle Healthcare social profiles

Digital presence

Puzzle Healthcare compliance and trust

Trust signal

Compliance1 record

Puzzle Healthcare financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Puzzle Healthcare leadership team

Management profile

Number of profiles

Puzzle Healthcare funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Puzzle Healthcare M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Puzzle Healthcare

What does Puzzle Healthcare do?

Puzzle Healthcare is a post-acute care coordination platform that combines on-site physiatry at skilled nursing facilities (SNFs) with a 90-day dedicated post-discharge care management program spanning hospital discharge, SNF stay, and the 90-day period post-SNF discharge. The platform serves hospitals, SNFs, and payors across 15 states through 230 SNF deployments, using disease-specific care managers, risk stratification, and a proprietary Post-Discharge Tracker to reduce hospital readmissions and total cost of care under value-based arrangements.

Is Puzzle Healthcare a public or private company?

Puzzle Healthcare is a private company. It is classified as venture growth investor backed and is currently operating.

When was Puzzle Healthcare founded?

Puzzle Healthcare was founded in 2022. It employs 101 to 250 people.

Where is Puzzle Healthcare based?

Puzzle Healthcare is headquartered in Detroit, United States, in the North America region.

Who are Puzzle Healthcare's main competitors?

Emerging players on record are WellSky, Strive Health and Vesta Healthcare. Broad incumbents are CareMore Health (Anthem), Privia Health, Encompass Health and CenterWell (Humana). Direct peers are Agilon Health, naviHealth (Optum) and Aledade.

Does Puzzle Healthcare have an API?

No public API is recorded for Puzzle Healthcare.

What industry is Puzzle Healthcare in?

Puzzle Healthcare's product category is Post-Acute Care Coordination Services. Its primary akta.pro industry code is HLADALAD, Transitions of Care Management (Hospital/SNF/Home), with a secondary code of HLALABAG, Post-Acute & Transitional Care Virtual Platforms (SNF/home health coordination). Its NAICS code is 62412 and its SIC code is 8051.

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Live signals
Healthcare IT TodayHCAP Partners Announces Investment in Puzzle HealthcareHCAP Partners, a California-based private equity and impact investment firm, announced an investment in Puzzle Healthcare, a post-acute care coordination platform focused on reducing hospital readmissions through physiatry and care management services in skilled nursing facilities. The investment will support Puzzle Healthcare's national expansion as it scales its model across 230 skilled nursing facilities in 15 states, addressing a more than $60 billion annual Medicare market shaped by aging demographics and pressure to reduce readmission rates.JD SupraHealthcare & Life Sciences Private Equity Deal Tracker: HCAP Invests in Puzzle HealthcareHCAP Partners announced an investment in Puzzle Healthcare, a Detroit-based post-acute care platform, as part of its strategy to fund healthcare companies in the US. The investment amount was not disclosed.Hospital ManagementHCAP Partners invest in Puzzle Healthcare to expand post-acute care platformHCAP Partners, a US-based private equity firm, has announced an investment in Puzzle Healthcare, a post-acute care coordination platform specializing in physiatry and care management services. The investment will support Puzzle Healthcare's expansion of its model, which operates across 230 skilled nursing facilities in 15 states and aims to reduce hospital readmissions, achieve cost efficiencies, and improve patient outcomes. The partnership is intended to accelerate Puzzle Healthcare's growth while maintaining its focus on clinical excellence and care coordination during critical post-acute recovery periods.YahooHCAP Partners invest in Puzzle Healthcare to expand post-acute care platformHCAP Partners, a US-based private equity firm, has announced an investment in Puzzle Healthcare to expand its post-acute care coordination platform. The funding supports Puzzle Healthcare's model of embedding physiatry services and care management into skilled nursing facilities to reduce hospital readmissions and improve patient outcomes. Currently operating in 15 states with over 60 hospital partnerships, the company aims to accelerate growth through this strategic partnership.FinSMEsPuzzle Healthcare Receives Investment from HCAP PartnersPuzzle Healthcare, a Detroit, Michigan-based provider of a post-acute care coordination platform, has received an investment from HCAP Partners. The company intends to use the funds to accelerate growth of its care model, scale operations nationally, and extend its reach. Currently, the company operates in 230 skilled nursing facilities across 15 states, serves approximately 18,000–24,000 patients annually in Michigan, and collaborates with more than 60 hospitals.PR NewswireHCAP Partners Announces Investment in Puzzle HealthcareHCAP Partners announced an investment in Puzzle Healthcare to accelerate the growth of its post-acute care coordination platform. The funding supports Puzzle's expansion of services that reduce hospital readmissions and lower costs within skilled nursing facilities across 15 states.SdbnHCAP Partners Announces Investment in Puzzle Healthcare – San Diego Biotechnology NetworkHCAP Partners announced an investment in Puzzle Healthcare, a company focused on post-acute care to reduce hospital readmissions and improve outcomes, in San Diego on December 19, 2025.HcapHCAP Partners Announces Investment in Puzzle Healthcare — HCAP PartnersHCAP Partners, a California-based private equity firm, announced its investment in Puzzle Healthcare, a post-acute care coordination platform that delivers physiatry and care management services in skilled nursing facilities. The investment will support scaling of Puzzle Healthcare's model, which reduces hospital readmissions and lowers care costs, with the company currently operating in 230 skilled nursing facilities across 15 states and serving approximately 18,000–24,000 patients annually in Michigan alone. The post-acute care market represents more than $60 billion in annual Medicare spend, driven by aging demographics and increasing pressure to reduce readmissions.