Benefit Recovery Group (BRG), a provider of healthcare subrogation services, has secured a strategic investment from Abry Partners (Abry).Abry, a leading Boston-based private equity firm, manages over USD5 billion of capital in its active funds and has completed more than USD82 billion in transactions.
BRG, a top choice of large Fortune 500 employers, will collaborate with Abry to accelerate its investment in sales efforts as well as the continued development of new and existing product offerings.
Tom Lawrence, Chief Executive Officer of BRG, says: “I am looking forward to the next chapter of our future with Abry Partners. They have a successful track record of blending their capital and investment expertise with experienced operators to build strong and growing businesses. The senior management team and I look forward to working closely with Abry and leveraging their healthcare and insurance expertise, extensive network and financial prowess as we continue to grow BRG.”
TJ Rose, Partner at Abry, says: “We are incredibly excited to partner with BRG. As the environment for insurance services becomes increasingly complex, we believe BRG’s outstanding management team, data and technology driven approach, and focus on customer service will uniquely position the company to expand its role as a leading subrogation provider to large employers.
“We were impressed by the leadership team’s creativity and focus on delivering a best-in-class service to customers through BRG’s unique “Zero Member Contact” approach, which has driven strong retention and consistent organic growth over the past several years. We look forward to working with Tom and his team to drive BRG’s impressive growth trajectory to the next level.”
Rose will sit on BRG’s Board of Directors.
Edgemont Partners LP acted as exclusive financial advisor to BRG.
