H.I.G. Capital completed a $225 million strategic minority investment in eHealth in the form of convertible preferred stock.
Headquartered in Santa Clara, CA, eHealth operates an online marketplace offering consumers a choice of insurance products, including Medicare Advantage, Medicare Supplement, Medicare Part D plans, individual and family health insurance, small business insurance and ancillary health insurance products, from more than 180 health insurance carriers.
“We are excited to team up with H.I.G. as we grow scale and market share by helping millions of Americans shop, compare and manage their health insurance,” Scott Flanders, CEO of eHealth, said. “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,” Aaron Tolson, managing director at H.I.G. Capital, said “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.”
