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Gemspring Capital invests in United Group Programs

An affiliate of private equity firm Gemspring Capital has made an investment in United Group Programs (UGP), a designer, marketer and administrator of healthcare benefit products and services.

Financial details of the investment have not been disclosed.
 
UGP was founded in 1968 and is both a third-party administrator and managing general agent of healthcare benefits. The company offers specialty products and services that are sold through an extensive broker network to small and mid-sized businesses.
 
The primary insurance products offered by the company include gap, limited medical, minimum essential coverage and self-funded major medical.
 
“UGP has a long track record of successfully developing, selling and administrating new and innovative healthcare benefit solutions. We are excited to invest in UGP and partner with the management team, led by Robert Edelheit and Marc Edelheit, to build upon its strong history of organic growth and selectively pursue strategic add-on acquisitions,” says Bret Wiener, managing partner of Gemspring.
 
The UGP management team is investing alongside Gemspring and will continue to lead the company.
 
“We are very pleased to partner with Gemspring. Their team will bring the right financial and strategic resources to help UGP continue our thoughtful approach to growth without compromising our focus on best-in-class customer service,” says Robert Edelheit, president of UGP.

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