Consumer Directed Health Plan TPAs

LLR is seeking to partner with a Consumer Directed Health Plan Third Party Administrator (CDHP TPA) serving middle-market employers with the demonstrated ability to drive client and employee engagement and savings through technology and value-added capabilities. Companies and intermediaries working in this space should contact Pete Schwartz to discuss relevant investment opportunities.

In my over three decades in the technology-enabled HR services industry, one thing became indisputable to me: delivering premier service to clients, their employees and their advisors is essential for success. I would go as far as to say that it is one of the few things that is not a commodity.

Michael Sternklar, former CEO of benefitexpress and former Senior Operating Advisor, LLR Partners

The Unmet Opportunity with Middle-Market Employers

Large, Fragmented Space

The CDHP TPA market represents a multibillion-dollar opportunity that remains highly fragmented, creating considerable space for innovation and disruption.

Shift to Consumer-Centric Healthcare

As a greater proportion of costs are pushed onto employees, the adoption of consumer-directed health plans is growing rapidly, allowing consumers to take control of their healthcare spend and decision-making.

Underserved Middle Market

Given self-insured models have historically been utilized by large enterprises, the market is largely ill-equipped to serve the unique needs of SMB and middle-market employers in managing costs and providing cost-effective coverage.

CDHP TPA Value Proposition

Brokers and employers alike are demanding best-in-class technology, integrated product offerings and high-impact service, providing an opportunity for CDHP TPAs to drive improved savings and outcomes.

LLR Investment Criteria for TPAs

or more of revenue
$30 - $150M
of equity capital needed to achieve growth objectives

Industry GrowthBits

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The information presented herein is intended for an audience of potential LLR portfolio companies and the intermediaries supporting their capital raise processes. Named LLR investments presented herein do not reflect a complete list of LLR investments and are provided for informational purposes only. Certain statements about LLR made by portfolio company executives and other quoted parties herein are intended to illustrate the work of LLR’s Value Creation Team with such portfolio companies or reflect the individual’s perspective on the featured industry sector. Such portfolio companies are controlled by investment vehicles managed by LLR. Quoted parties were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company or Senior Operating Advisor roles, and in certain cases are also owners of portfolio company securities and/or investors in LLR-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.