Key Takeaways
- • Sapphiros, backed by KKR funds, and binx health, backed by Hildred, have combined to form Onvaro, a next-generation point-of-need diagnostics company, according to a Business Wire release dated November 4, 2026.
- • KKR (through its Health Care Strategic Growth strategy), Hildred, and EQT Life Sciences are investing new capital to support Onvaro's growth; the release does not disclose deal size or valuation.
- • Mike Karsonovich, who has led binx health, will serve as Chief Executive Officer, and Sapphiros founder Namal Nawana will serve as Lead Director.
- • The combined portfolio is anchored by the binx io platform, an FDA-cleared, CLIA-waived molecular point-of-care system with more than 1,000 installed instruments and a national distribution network.
- • Onvaro plans a connected diagnostics layer intended to link test results with providers, telehealth platforms, and pharmacies, with pipeline products in respiratory, women's health, infectious disease, and blood collection subject to regulatory clearances.
Summary
Sapphiros, a diagnostics platform backed by investment funds managed by KKR, and binx health, a point-of-care diagnostics company backed by Hildred, a health care-focused private equity firm, have combined to form Onvaro, according to a Business Wire release. The company is positioned to deliver fast, accurate, and affordable testing across health care and consumer settings, including retail, at-home, and other decentralized channels.
As part of the combination, investment funds managed by KKR through its Health Care Strategic Growth strategy, Hildred, and EQT Life Sciences are investing capital to support Onvaro's growth. The release does not disclose the amount invested. KKR first invested in Sapphiros in 2021, and Hildred first backed binx health in 2021.
Onvaro combines binx health's FDA-cleared, CLIA-waived platform and national commercial network with Sapphiros' printed electronics, blood collection technology, manufacturing capabilities, and retail pharmacy and strategic supply channels. The commercial portfolio will be anchored by the binx io system, which has more than 1,000 installed instruments. The Sapphiros pipeline extends into respiratory testing, women's health, infectious disease, and blood collection, subject to applicable regulatory clearances or approvals.
Onvaro is also developing a connected diagnostics layer designed to capture results at the point of testing and connect patients with providers, telehealth platforms, pharmacies, and other care services. The company says this aims to expand access to care, improve patient outcomes, and lower health care costs.
Mike Karsonovich, who has led binx health and has more than 35 years of experience including senior roles at StatLab Medical Products, ElectroCraft, Thermo Fisher Scientific, and Abbott, will serve as CEO. Namal Nawana, founder of Sapphiros, will serve as Lead Director. Ali Satvat, Global Head of Health Care Strategic Growth at KKR, Andrew Goldman, Co-Founder and Managing Partner at Hildred, and Christoph Broja, Partner at EQT Life Sciences, all issued statements supporting the combination.
As part of the combination, investment funds managed by KKR through its Health Care Strategic Growth strategy, Hildred, and EQT Life Sciences are investing capital to support Onvaro's growth. The release does not disclose the amount invested. KKR first invested in Sapphiros in 2021, and Hildred first backed binx health in 2021.
Onvaro combines binx health's FDA-cleared, CLIA-waived platform and national commercial network with Sapphiros' printed electronics, blood collection technology, manufacturing capabilities, and retail pharmacy and strategic supply channels. The commercial portfolio will be anchored by the binx io system, which has more than 1,000 installed instruments. The Sapphiros pipeline extends into respiratory testing, women's health, infectious disease, and blood collection, subject to applicable regulatory clearances or approvals.
Onvaro is also developing a connected diagnostics layer designed to capture results at the point of testing and connect patients with providers, telehealth platforms, pharmacies, and other care services. The company says this aims to expand access to care, improve patient outcomes, and lower health care costs.
Mike Karsonovich, who has led binx health and has more than 35 years of experience including senior roles at StatLab Medical Products, ElectroCraft, Thermo Fisher Scientific, and Abbott, will serve as CEO. Namal Nawana, founder of Sapphiros, will serve as Lead Director. Ali Satvat, Global Head of Health Care Strategic Growth at KKR, Andrew Goldman, Co-Founder and Managing Partner at Hildred, and Christoph Broja, Partner at EQT Life Sciences, all issued statements supporting the combination.
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