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Puzzle Healthcare
- Member Auctus Capital Partners
- Sector Business & Financial Services
- Date completed 12.09.2025
- Client Puzzle Healthcare
- Country United States
- Investor HCAP Partners
- Country United States
CHICAGO — Auctus Capital Partners is pleased to announce that it served as exclusive financial advisor to Puzzle Management Group, LLC (“Puzzle Healthcare”), an innovative and rapidly growing post-acute care medical group, in completing a growth capital raise by a West Coast-based private equity firm.
“We enjoyed working with the Puzzle team on this transaction, which positions the company for sustained growth and expanded penetration across health system relationships,” said Muhammad Azfar, Auctus Managing Partner who led the transaction. “Puzzle has built a compelling platform that delivers measurable clinical and economic value across the post-acute continuum, and we are excited to support the company as it enters its next phase of growth.”
Founded to address inefficiencies in post-acute care, Puzzle partners closely with health systems and skilled nursing facilities (SNFs) to drive exceptional patient outcomes and significant reductions in readmission rates following discharge, reducing the total cost of care and delivering meaningful value for all constituents.
Since inception, Puzzle has worked alongside health systems in 15 states to improve post-acute patient outcomes and experience, connecting patients with dedicated care managers that deliver a tailored treatment plan alongside integrated physiatry providers, ensuring the patient receives unparalleled care across their entire healthcare journey from admission to home.
“We were highly impressed by the Auctus deal team and greatly appreciated their guidance throughout the process,” stated Dr. Ahzam Afzal, PharmD, CEO and Co-Founder of Puzzle Health. “This investment enables us to deploy additional capital to accelerate growth, expand our footprint, and continue delivering the highest standard of service.”
Auctus Capital Partners advised Puzzle Health throughout the transaction. The deal team included Director Ovais Siddiqui.
For more information, visit https://puzzlehealthcare.com/
About Auctus Capital Partners
Auctus Capital Partners is a leading financial services and investment banking firm focused exclusively on creating value for the lower middle market. We specialize in merger & acquisition advisory, institutional private placements of debt and equity, financial restructuring, valuation, and strategic consulting. Our senior bankers have deep domain expertise across a range of industries, with the necessary foresight to navigate highly complex transactions to maximize value and achieve optimal outcomes for clients. For additional information, visit www.AuctusCapitalInc.com.
About Puzzle Healthcare
Puzzle Healthcare is a value-based post-acute care platform designed to improve outcomes and continuity of care for patients transitioning from hospital to post-acute settings and ultimately home. The company partners with health systems and post-acute providers to deploy integrated clinical and care coordination solutions that align incentives, reduce fragmentation, and support long-term recovery. Puzzle Healthcare currently operates across multiple states and continues to expand its reach as demand for high-quality, outcomes-focused post-acute care grows nationwide.
https://puzzlehealthcare.com/
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