11/9
2020
Deal Announcements, Exits

Alpine's HealthComp Announces Partnership With New Mountain Capital

SAN FRANCISCO--()--Alpine Investors (“Alpine”), a middle-market private equity firm that focuses on investing in people to build enduring companies, today announced that HealthComp Holding Company, LLC ("HealthComp”), a leading independent Third Party Administrator (TPA), is partnering with New Mountain Capital, a leading growth-oriented investment firm with $28 billion in assets under management. As part of the transaction, Alpine is exiting its investment in HealthComp.

Founded in 1994 and headquartered in Fresno, California, HealthComp is the largest independent Third-Party Administrator (TPA) of healthcare benefits in the U.S., serving more than 400,000 members in the self-funded employer industry. The Company offers best in class technology for healthcare benefits administration, payment integrity and care management services to address the “dual mandate” in the U.S. healthcare system: reducing costs and improving clinical outcomes and experience for employees. As part of the transaction, HealthComp’s CEO and management team will remain in place and invested in the company.

"Through our partnership with Alpine, HealthComp has been able to address the ‘dual mandate’ in U.S. healthcare of reducing costs and improving the member experience,” said Jose Rivero, CEO at HealthComp. “We thank Alpine Investors for their fantastic partnership, and we look forward to continuing to build the HealthComp platform with the support and strategic guidance of New Mountain Capital.”

"We are proud of what we have accomplished with HealthComp over the past four years. Jose’s people-driven leadership, innovation, and focus on operational excellence have created the leading independent TPA in the country. We’re excited to see HealthComp’s growth continue as a result of its partnership with New Mountain Capital,” said Will Adams, Partner at Alpine Investors.

TripleTree, LLC served as the exclusive financial advisor to HealthComp for the transaction and Wilson Sonsini Goodrich & Rosati served as legal counsel.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in middle-market companies in the software and services industries. Its PeopleFirst™ strategy includes a CEO-in-Residence program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $1 billion seventh fund. For more information, visit http://www.alpineinvestors.com.

About HealthComp Holding Company, LLC

For more than 25 years, HealthComp has been dedicated to transforming benefits administration. Bringing together concierge-level service, operational excellence, powerful analytics and cost management, HealthComp has built a solution that integrates seamlessly with any benefits ecosystem. HealthComp has offices in California, Illinois, West Virginia and Pennsylvania. For more information, visit healthcomp.com.

Alpine Investors