H.I.G. Capital, a global alternative investment firm with $44 billion of equity capital under management, has, through an affiliate, completed a $225 million strategic minority investment into eHealth Inc. in the form of convertible preferred stock.
Headquartered in Santa Clara, CA, eHealth operates an online marketplace offering consumers insurance products that including Medicare Advantage, Medicare Supplement, Medicare Part D plans, individual and family health insurance, small business insurance and ancillary health insurance products.
Scott Flanders, chief executive officer of eHealth, commented, “We are excited to team up with H.I.G. as we grow scale and market share by helping millions of Americans shop, compare, and manage their health insurance. With this investment, we will take immediate steps to build on our strong foundation and fast-track our strategic plans.”
“We have long respected eHealth for its best-in-class technology and proven track record of growth,” said Aaron Tolson, managing director at H.I.G. “The work Scott and the eHealth management team are doing to help customers find health insurance plans that are best suited to their needs has never been more important. We are excited to join the Company to help drive continued growth.”