An affiliate HIG Capital (HIG) has completed a USD225 million strategic minority investment in eHealth, in the form of convertible preferred stock.
Headquartered in Santa Clara, California, eHealth operates a leading online marketplace offering consumers a broad choice of insurance products that includes thousands of Medicare Advantage, Medicare Supplement, Medicare Part D plans, individual and family health insurance, small business insurance and ancillary health insurance products from over 180 health insurance carriers.
Scott Flanders, Chief Executive Officer of eHealth, says: “We are excited to team up with HIG as we grow scale and market share by helping millions of Americans shop, compare, and manage their health insurance. With this investment, we will take immediate steps to build on our strong foundation and fast-track our strategic plans.”
“We have long respected eHealth for its best-in-class technology and proven track record of growth,” says Aaron Tolson, Managing Director at HIG “The work Scott and the eHealth management team are doing to help customers find health insurance plans that are best suited to their needs has never been more important. We are excited to join the Company to help drive continued growth.”
HIG is an experienced investor in the direct-to-consumer and healthcare industries and will leverage its sector expertise and broad resource base to support growth initiatives at eHealth.