HealthEZ (or the “Company”), a leading independent third-party administrator (TPA) of self-funded medical plans, today announced that Abry Partners (“Abry”), one of the premier sector-focused private equity investment firms in North America, has acquired a majority stake in HealthEZ. With this transaction, Abry adds HealthEZ to its growing portfolio of healthcare services investments.
Abry’s investment is intended to enable HealthEZ to provide more and enhanced services to its marquee client base as well as pursue strategic acquisitions.Fintech News
Founded in 1982 by industry luminary Nazie Eftekhari, and headquartered in Minneapolis, Minnesota, HealthEZ is driven by the principles of simplifying and making more transparent the byzantine process of accessing and financing healthcare for employers, their employees and the physicians and other providers who treat them. HealthEZ has established a unique value proposition in the self-funded medical space with a particular focus on the small- and mid-sized business (SMB) market. The Company boasts many industry innovations including the nation’s first captive PPO network, as well as proprietary patient payment technology. HealthEZ plays an important role at the center of the self-funded benefits space, and is a valuable partner to employers, employees, brokers, underwriters, and healthcare providers.
Nazie Eftekhari, HealthEZ’s Founder and Chairwoman, commented on the transaction: “When I met the Abry team I knew they would be a good fit for our company, our clients, our members, and our team. They are a diverse and talented team, like us, like our clients and our team, like America and Americans. We look forward to working with the Abry team to make HealthEZ the best TPA in America.”
T.J. Rose, Partner of Abry said, “We’re incredibly impressed by the business Nazie and the HealthEZ team have built and we are proud to become her partner in the next phase of HealthEZ’s growth. The HealthEZ team has done a tremendous job of helping small businesses navigate the complex self-insured landscape and we look forward to driving future growth through continued investment in technology and people.”
Lincoln International LLC acted as exclusive financial advisor to HealthEZ, while Norton Rose Fulbright LLP acted as exclusive legal counsel to the Company. Abry was advised by DLA Piper LLP.