Healthcomp’s Acquisition of Gilsbar’s TPA Division Will Support Continued Enhancements in Client Offerings and Growth
HealthComp Holding Company LLC, a New Mountain Capital company and a leading Third-Party Administrator (TPA) of healthcare benefits for self-funded employers, announced that it has acquired Gilsbar’s TPA and Care Management (MedCom) divisions (Gilsbar, LLC). Together, the combined business will continue to deliver on two critical priorities for its clients: managing healthcare costs and delivering a best-in-class member experience.
“It’s a phenomenal fit – both HealthComp and Gilsbar are forward-thinking companies, delivering value through a now shared vision of operational excellence, clinical expertise, and technological advancements”
“HealthComp has chosen to invest in Gilsbar’s TPA because of its exceptional reputation, its outstanding market performance, and its high caliber of talent,” said Jose Rivero, CEO of HealthComp. “By combining the strengths of both our organizations, we’ll be able to deliver unmatched expertise and innovation in the field of health benefit administration, particularly in regard to healthcare cost containment, member engagement, and care management. In addition, Gilsbar’s geographic location will give HealthComp the local presence to better serve clients and brokers in the South and Southeast.”
HR Technology News: LifeWorks Expands Mental Health and Wellbeing Programs to Millions More Worldwide
Gilsbar’s TPA offers a fully-integrated approach to benefit plan administration, which includes sophisticated technology and personalized service. Through MedCom, Gilsbar’s in-house care management division, the company delivers care management programs that positively impact employee health and wellbeing. It has successfully provided clients with savings, process efficiencies, and member satisfaction. Gilsbar’s strong national presence and care management capabilities will move HealthComp one step closer to building a leading, national TPA of self-insured health plans.
“It’s a phenomenal fit – both HealthComp and Gilsbar are forward-thinking companies, delivering value through a now shared vision of operational excellence, clinical expertise, and technological advancements,” said Ryan Haun, CEO and President of Gilsbar Holdings, LLC. “HealthComp’s financial and operational support will enable additional investment in technology and enhanced service offerings. Additionally, HealthComp will bring its leading-edge technology and capabilities to Gilsbar clients, including a proprietary analytics platform and digital tools. More importantly, we remain committed to delivering the same level of service our clients have come to expect and rely on.”
HR Technology News: Signifyd Adopts Four-Day Workweek to Avoid Burnout, Promote Employee Wellness and Foster Creativity
Moving forward, HealthComp and Gilsbar will work together to enhance products, services, and support for their customers. Whereas traditional health plans have been unable to deliver tailored offerings, these companies fill the need for highly customizable solutions, as employers want health benefits configured to the needs of their unique member populations.
Gilsbar Holdings and its remaining subsidiaries will continue their core businesses. Gilsbar Specialty Insurance is a nationally recognized retailer of professional liability and commercial insurance products to attorneys, CPA’s and other professionals. Gilsbar Group Benefits will maintain its presence in the Southeastern US as a full-service benefits brokerage house to employer and association groups.
Mesirow served as exclusive financial advisor to Gilsbar in the transaction.
HR Technology News: Monster Employment Index: 6% Spike in Demand for Healthcare Professionals on Account of Rising Omicron Variant Concerns
[To share your insights with us, please write to sghosh@martechseries.com]