MINNEAPOLIS – September 4, 2019 – TripleTree, LLC, a strategic advisor and merchant bank serving innovative and market-leading companies in healthcare, is pleased to announce that it advised Pareto Health, Inc. (“Pareto Health”) on its recapitalization by Great Hill Partners (“Great Hill”). Pareto Health is a leading employee benefit group captive manager that helps businesses with 50+ employees self-fund health benefits with greater savings and lower volatility. The investment will allow the company to significantly expand its geographic footprint, sales and marketing, and industry-leading cost containment efforts. Financial terms of the transaction were not disclosed.
“Employers are the largest sponsors of health benefits coverage in the U.S. and the cost of fulfilling those benefits continues to skyrocket,” said Jason Grais, Managing Director at TripleTree. “Pareto Health is transforming the health benefits market, and together with Great Hill Partners, they will capitalize on the opportunity to disrupt the status-quo and rapidly scale an innovative and differentiated solution.”
“We are excited to partner with Great Hill given their track record with high growth companies in the self-insured employer space and look forward to scaling our solutions to help many more employers across the country in the coming years,” said Andrew Cavenagh, Founder and Chief Executive Officer of Pareto Health. “TripleTree was a true partner throughout the entire process. Through their deep industry insights and thoughtful guidance, they helped us articulate the profound opportunity for Pareto Health’s unique solutions to solve employers’ pain points in self-funded benefits, and supported us in selecting Great Hill as our partner to maximize our impact on the industry.”
TripleTree acted as the exclusive financial advisor to Pareto Health for this transaction.
TripleTree is an independent merchant bank focused on mergers and acquisitions, growth capital, recapitalizations, strategic advisory and principal investing. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit www.triple-tree.com.
About Pareto Health
Pareto Health forms and manages employee benefit group captives that mitigate the year-to-year volatility and risk inherent in self-insurance, thereby allowing employers to focus on reducing healthcare costs. Members of Pareto Health captives gain access to an exclusive suite of risk management and cost containment initiatives to help them provide affordable and effective healthcare to their employees. For more information, visit www.paretocaptive.com