NationsBenefits Raises More Than $170 Million of Growth Capital Led by The Pritzker Organization, Denali Growth Partners, and Monroe Capital
NationsBenefits®, a recognized leader and one of the fastest-growing providers in the supplemental benefits market, announced today that it has raised more than $170 million in growth financing. The Pritzker Organization ("TPO") and Denali Growth Partners ("DGP") led the minority equity investment, with support from Monroe Capital. The funding will be used to enhance NationsBenefits' existing service offerings and expand the company’s capabilities.
Founded in 2015, NationsBenefits' mission is to help its customers achieve a better quality of life through supplemental benefit solutions. The company focuses on innovation and bringing consumer-centric technology to market that meets its customers’ needs where they are—on their terms—through clinically focused interventions while also promoting independence, health, and well-being with best-in-class service. Currently, the company serves more than 20 million members across the U.S.
Michael Parker, Chief Operating Officer at NationsBenefits
"Expanding our offerings is core to our mission and the continued growth of our organization," said Glenn M. Parker, M.D., Founder and CEO at NationsBenefits. "This investment will allow us to grow our service capabilities to meet the needs of our customers, as we continue to add additional solutions," added Michael Parker, COO at NationsBenefits.
"We see the opportunity for NationsBenefits to build upon its leading position in the supplemental benefits arena. This financing will assist the company as it continues to maintain its strong growth trajectory. We believe that the Company has a long runway ahead of it, and we’re thrilled to partner with Glenn, Michael and the rest of the team,” said Alex Feld, a Principal at TPO.
"NationsBenefits is led by an impressive, experienced, and highly regarded management team, with a demonstrated record of excellence in serving its clients," said Jesse Lane, the Founder of Denali Growth Partners. "We are honored and excited to partner with the NationsBenefits team to support the company in its next phase of growth."
NationsBenefits® is a leading supplemental benefits company that partners with managed care organizations to provide innovative healthcare solutions aimed at driving growth, improving outcomes, reducing costs, and delighting members. We surpass traditional benefit designs by taking a consultative approach to understanding each valued client’s objectives, and we offer customized programs that can be targeted or scaled to effectively engage members who have diverse needs. With our compliance-focused infrastructure, technology, care continuum and best-in-class service delivery model, health plans can depend on our company to maximize the value-based care delivered to millions of people who deserve a better quality of life. To learn more, visit NationsBenefits.com.
About The Pritzker Organization
The Pritzker Organization (TPO) is the merchant bank for the business interests of the Tom Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities where it can create value for the family's interests and those of its partners and colleagues over a significant time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting, KBP Investments, Mammoth Holdings, STV Inc, and Crown Healthcare Laundry Services. In addition to its core strategy of building businesses over the long term, TPO is also active in special situations, advising the family's interests in the deployment of capital across a wide spectrum of industries and investment structures. Additional information can be found at www.pritzkerorg.com.
About Denali Growth Partners
Denali Growth Partners is a Boston-based growth equity firm. DGP seeks to partner with fast-growing, capital-efficient businesses serving the healthcare ecosystem. DGP helps management teams and companies accelerate growth through capital and strategic resources. Additional information about Denali Growth Partners is available at www.denaligrowth.com.
NationsBenefits Legal Counsel: McDermott Will & Emery
TPO Legal Counsel: Latham & Watkins LLP
DGP Legal Counsel: Kirkland & Ellis LLP, Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, and DLA Piper
Monroe Legal Counsel: Paul Hastings LLP