Pyx Health Acquires FarmboxRx to Strengthen Member Engagement Offerings for Health Plans, Supported by $47.5M Investment from S2G Investments

Acquisition enhances Pyx Health's ability to address food insecurity and improve health outcomes through trust-centered engagement

TUCSON, Ariz., June 3, 2025 /PRNewswire/ -- Pyx Health, an engagement company focused on healthcare's most vulnerable, hard-to-reach populations, today announced its acquisition of FarmboxRx, a leading healthcare food company that pioneered fresh fruits and vegetables as a covered health intervention. The acquisition was made possible by a $47.5 million investment from S2G Investments ("S2G"), a multi-stage investment firm focused on scaling solutions across food and agriculture, energy, and oceans, in strategic partnership with TT Capital Partners, which first invested in Pyx Health in 2023. The acquisition combines the companies' deep domain knowledge in healthcare and food systems to drive innovation at the intersection of two historically siloed sectors.

Both Pyx Health and FarmboxRx are mission-driven organizations committed to improving health outcomes for health plans' most vulnerable populations through personalized, scalable support. Pyx Health's mentor-driven care navigation model addresses non-medical drivers of health (NMDOH) like loneliness and other support needs, while FarmboxRx enhances this approach by delivering customized food boxes tailored to specific health conditions and goals.

By integrating nutritional support into care pathways, the combined platform will help address food insecurity—the top social barrier identified among Pyx Health members—while enabling health plans to incentivize behaviors such as 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 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 healthcare engagement. By utilizing food as an entry point, we can bring everyone together."

Trust plays a critical role in member behavior. Individuals who feel supported are more likely to engage in preventive care and chronic condition management, reducing the need for costly ER visits. By starting with food, Pyx Health and FarmboxRx are using an accessible, tangible resource to foster deeper healthcare relationships and long-term behavior change.

"FarmboxRx exists to address the root causes of health disparities among the populations we serve," said FarmboxRx Founder and CEO Ashley Tyrner-Dolce. "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 empower Pyx Health to serve more members, especially 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," said Dan Ripma, Vice President at S2G. "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."

The companies are already working to integrate their platforms and operations to offer a seamless, expanded offering across health plans and provider networks. This partnership reflects a broader trend toward personalized, relationship-based engagement models that address health-related social needs, while also underscoring growing recognition of food solutions as powerful drivers of measurable improvements in cost, quality, and access.

Brownstein Hyatt Farber Schreck LLP provided legal advice to Pyx Health. Oppenheimer & Co. Inc. served as the exclusive financial advisor to Farmbox Direct, Inc. on its sale to Pyx Health.

About Pyx Health
Pyx Health is a leading engagement and care navigation company on a mission to empower healthcare through the power of human connection. The Pyx Health platform leverages compassionate, trained mentors supercharged with technology to improve member engagement, health, and experience. Leveraging data and best-in-class care tracks, Pyx Health uncovers and addresses a range of health-related social and physical needs to impact outcomes for vulnerable populations. Recognized by Fast Company in 2023 as a World Changing Idea, Pyx Health's platform has demonstrated results in quality improvement, member engagement, and overall health outcomes. For more information, visit www.pyxhealth.com and follow them on LinkedIn and Facebook. Because no one gets better alone.™

About FarmboxRx
FarmboxRx is a leading member engagement platform that partners with Healthcare Organizations to improve Member health outcomes via customizable nutrition solutions and health literacy. Since 2014, FarmboxRx has been providing meaningful, scalable, and medically appropriate support to promote health equity and inspire self-efficacy for individuals to attain the highest level of health.

About S2G Investments
S2G is a multi-stage investment firm focused on venture and growth-stage businesses across food & agriculture, oceans, and energy. The firm provides capital and value-added resources to companies and leadership teams pursuing market-based solutions designed to deliver greater value, improved outcomes, and enhanced performance over traditional alternatives. With a commitment to creating long-term, measurable outcomes, S2G structures flexible capital solutions that can range from venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit s2ginvestments.com or connect with us on LinkedIn.

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SOURCE Pyx Health