Pareto Health Inc., an employee benefit group captive manager, has completed a recapitalization with private equity firm Great Hill Partners. The investment is expected to help the company significantly expand its geographic footprint, sales and marketing, and cost containment efforts. Financial terms of the transaction were not disclosed.
Pareto Health partners with a select group of benefit brokers and consultants to educate employers about the benefits of group captives and already has approximately 800 employers representing over 200,000 lives nationwide and an approximate total benefits spend of $1 billion in its captive programs.
As part of the transaction, Mark Taber and Rafael Cofiño of Great Hill Partners will join Pareto Health Founder and CEO of Pareto Andrew Cavenagh and President Andrew Clayton on the Pareto Health Board of Directors.
TripleTree LLC served as exclusive financial adviser to Pareto Health. Goodwin Procter LLP served as legal adviser to Great Hill Partners, and Sullivan & Cromwell LLP and Kurtz & Revness, PC served as legal advisers to Pareto Health.