Great Hill Partners, a growth-oriented private equity firm has completed a recapitalization in Labor First LLC, a provider of group retiree Medicare benefit management solutions.
Founded in 2005, Labor First offers a proprietary administrative technology platform, customized healthcare benefit solutions and full-service account management and concierge retiree advocacy services for plan sponsors and their retirees.
“Union and public sector entities are continuously searching for solutions to help mitigate the impact of rising post-retirement healthcare costs and often don’t know how to effectively solve this problem,” said John Dulczak, co-founder and CEO of Labor First. “Our model drives hard dollar fixed cost savings for plan sponsors while enhancing benefits and providing best in class service to retirees. We look forward to Great Hill’s partnership in helping us continue to drive significant value to plan sponsors and their retirees.”
“Labor First has built a market-leading franchise in the group retiree Medicare benefit management space,” said Rafael Cofiño, a managing director at Great Hill Partners. “We are thrilled to partner with John, Anthony, David, Gian and the rest of the management team as they expand their platform and continue to execute on their vision to help lower the cost of care and improve health outcomes for the tens of millions of retirees across the country that are eager for a new and improved solution to navigate their healthcare.”
In addition to Labor First, Great Hill Partners’ portfolio of healthcare companies includes Pareto Health, PartsSource, Quantum Health, RxBenefits and Vatica Health.
As part of the transaction, Cofiño, Mark Taber and Michael Noel of Great Hill Partners will join the Labor First board of directors.
Flaster Greenberg served as legal counsel to Labor First. SVB Leerink served as financial advisor and Goodwin Procter served as legal counsel to Great Hill Partners.