- Business
- DFP Healthcare Acquisitions Corp. (DFPH) operates as a blank check company focused on effecting mergers, capital stock exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations, primarily targeting healthcare and healthcare-related businesses encompassing services, therapeutics, devices, diagnostics, and animal health. The company offers no proprietary products or services beyond its special purpose acquisition vehicle structure, which facilitates initial public offerings and subsequent combinations with operating entities in the healthcare sector. Incorporated in 2019 and headquartered in New York, New York, it conducts operations principally in the United States and other developed markets, with a sponsor affiliation to Deerfield Management Company, L.P., and involvement from healthcare executive Richard Barasch.
In November 2021, DFP Healthcare Acquisitions Corp. completed a reverse merger business combination with The Oncology Institute, Inc. (TOI), a value-based oncology care provider, valuing the combined entity at an enterprise value of approximately $842 million and enabling TOI to list on Nasdaq under the ticker TOI. This transaction included a $275 million private investment in public equity (PIPE) from investors such as Fidelity Management & Research Company LLC, Deerfield Management, and Redmile Group, LLC, alongside approximately $334 million in total cash proceeds, of which $133 million supported TOI's growth in de novo clinics and acquisitions across California, Nevada, Arizona, and Florida. Post-merger, the DFPH ticker appears associated with DFP Holdings Limited, a separate Taiwan-based entity providing online and offline educational services in business management training and self-media production via platforms like dfpschool.qdm.tw, though no direct operational linkage to the original SPAC activities is evident.