Koltin, a Mexico-based health platform for people over 60, announced on 6 April 2026 the acquisition of Last Mile Care, an operator of in-home clinical visits. It is a private-to-private transaction with no disclosed price, and it shows an early-stage healthtech using M&A to complete its care chain instead of building it.
The transaction
Koltin acquires Last Mile Care, which delivers infusions, therapies and post-hospitalisation care at home “at lower costs than traditional settings”, according to LatamList. Price, payment structure and valuation were not disclosed. The target’s co-founders join the buyer: Mateo Hernández Romieu as Vice President of Patient Innovation and Bernardo Alarcón Jiménez leading Last Mile Care’s operations. Koltin integrates home visits into its clinical and telemedicine services. No conditions or pending regulatory approvals were reported.
The buyer runs a membership combining major medical insurance underwritten by BBVA Seguros, prevention and community programmes. According to Expansión (January 2026), Koltin has issued more than MXN 200 million in premiums, with a renewal rate above 90% and an NPS of 72.
Value drivers
Closing the care loop. Koltin already covered consultations, telemedicine and financial protection; it lacked clinical execution in the home. Buying an operator with an existing team and protocols shortens the time to offer the service to a book that already pays.
Readmissions and cost per episode. Momento Corporativo cites evidence from hospital-at-home models: 30-day readmissions falling from 23% to 7%, and in studies covering more than 64,000 patients, up to 18% lower risk of returning to hospital and 20% lower mortality. In our reading, for a model whose economics depend on the loss ratio of an insured book, every avoided readmission is margin.
Retention as the buyer’s asset. A renewal rate above 90% and an NPS of 72 point to a base that can be sold the new service without additional acquisition cost. This is our interpretation; the sources do not quantify the expected impact.
Team continuity. Both co-founders taking operating roles suggests the core asset is execution capacity rather than technology. In deals of this size, part of the consideration is commonly tied to retention; whether that applies here was not disclosed.
What the market is signalling
For Mexico, the signal is that a strategic buyer now exists for home-care operators: a healthtech with an insured book and, one month earlier, an insurer with more than 24% of the major medical segment taking a stake in a digital network (GNP and Meddi, March 2026). Whoever controls the relationship with the policyholder wants to control the cost of the clinical episode as well.
For founders of home health, therapy or infusion services, the implication is that value will be tested on clinical outcomes and cost per episode, not on user growth. For lenders, a book with high renewal and recurring premiums is the kind of base on which debt can be structured, which remains rare in early-stage Mexican healthtech.
G2’s reading for a mandate
In a sell-side of a clinical operator, the information memorandum must document readmissions, avoided infections and cost per episode against the hospital setting, with auditable data, because that is what a buyer with a book will model. In a buy-side for a healthtech or an insurer, the model should quantify the expected reduction in the loss ratio and tie part of the price to the operating team staying on.
Sources
- El Financiero, 6 April 2026: Koltin adquiere Last Mile Care
- Momento Corporativo, 6 April 2026: Koltin adquiere Last Mile Care para reforzar su modelo de atención médica en el hogar
- LatamList, 7 April 2026: Koltin acquires Last Mile Care
- Expansión, 5 January 2026: Koltin redefine el negocio de salud para adultos mayores