S&S Health Receives Growth Investment from Lovell Minnick Partners
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Investment enables S&S to scale client services, accelerate technology innovation and pursue strategic acquisition opportunities
CINCINNATI, October 5, 2023-- S&S Health (“S&S” or the “Company”), a leading provider of administration and technology solutions for health plans for small and mid-sized businesses (SMBs), announced today that it has received a majority growth investment from Lovell Minnick Partners LLC (“LMP”), a private equity firm focused on investments in financial services, business services, and financial technology companies. This strategic partnership will enable S&S to advance organic growth initiatives, enhance operational efficiency, and accelerate its mission to improve healthcare outcomes nationwide. Terms of the deal were not disclosed.
Founded in 1994, S&S partners with brokers, program managers, carriers, and other third-party administrators to offer comprehensive healthcare services and coverage. S&S’ proprietary claims adjudication platform enables the Company to support any plan design, level of complexity and account structure to offer cost-effective, tailored solutions for employers. In addition to benefit plan administration, the Company provides employers with provider network access and a marketplace of solutions for wellness and cost containment strategies.
“The partnership with LMP represents an exciting chapter in our Company’s history. We are confident that LMP’s extensive experience and resources will empower us to provide even more cutting-edge healthcare solutions to market and make a positive impact on benefit administration and cost containment strategies,” said Vincent Esposito, CEO of S&S. “Our dedication to delivering exceptional healthcare services remains unchanged, and with LMP as our new partner, we are poised to elevate our client experience to new heights and remain a reliable partner our clients can count on.”
“We have a strong history of forming successful partnerships with technology-driven companies led by dynamic management teams known for their client-centric approach and a track record of organic growth,” said Brad Armstrong, Partner at LMP. “We believe that with our resources and strategic guidance, S&S will continue to be a leader in the benefits marketplace and provide their clients with the highest quality of service.”
“S&S’ commitment to innovation, exceptional track record, and talented team makes them a natural fit for our portfolio,” said Jason Klein, Principal at LMP. "Their proprietary technology platform, strong relationship with clients and partners, and commitment to driving successful outcomes should position them very well for continued growth.”
The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory reviews and approvals. Waller Helms Advisors served as financial advisor to S&S and Harris Williams served as financial advisor to LMP. Baker Donelson served as legal advisor to S&S and Schulte, Roth & Zabel served as legal advisor to LMP.
S&S Health delivers comprehensive administrative solutions that maximize the efficiency and effectiveness of self-funded healthcare programs. The company simplifies the complexities of self-funded health plans for employers, ensuring they can provide cost-effective, tailored benefits to their employees while maintaining compliance and transparency. From plan design and enrollment management to claims processing and member support, S&S’ services are designed to streamline the administration of self-funded health plans, help clients achieve cost savings, enhance employee well-being, and ensure a seamless healthcare experience for all participants.
To learn more about S&S, visit http://www.ss-healthcare.com/.
Lovell Minnick Partners is a private equity firm with a 20+ year track record of partnering with growth-oriented companies. We leverage our deep sector experience and broad network of strategic advisors to help founders scale their companies at an accelerated pace. LMP collaborates with management teams to achieve long-term success and value creation through organic growth and strategic acquisitions.
Since our inception in 1999, we have raised approximately $4.75 billion of committed capital, invested in over 50 companies and completed over 175 add-on acquisitions. LMP targets growth-oriented, middle-market companies in the following sectors: financial services, financial technology and business services.