Enhance Health, LLC, a new technology-enabled, digital health insurance brokerage, and care navigation platform focused on serving the Medicare Advantage market, has launched with $150 million of total capital. With a capital commitment led by Bain Capital Insurance and a partnership that will bring additional support and resources, Enhance Health will pursue a growth strategy to build a leading Medicare insurance distribution and care navigation platform through acquisition and organic initiatives.
Headquartered in Fort Lauderdale, Florida, Enhance Health will serve both the Medicare and individual and family plans segments of the health insurance market and is led by industry veterans Matt Herman, Gary Jenkins, and Michael Lagalante.
- Mr. Herman, chief executive officer of Enhance Health, previously served as founder and chief executive officer of Health Benefits Group, Inc. and brings more than 15 years of health brokerage experience to the business, including significant experience managing and scaling digital/telesales operations.
- Mr. Jenkins, chief financial officer, brings expertise as former president and chief financial officer of AmeriLife, one of the largest health, life, and annuity marketing organizations in the US.
- Mr. Lagalante joins as chief operating officer from Federal Life Insurance Company, where he drove the growth of the company’s health business as head of business development.
Bain Capital Insurance’s investment in Enhance Health builds upon the firm’s cross-platform experience building insurance businesses in partnership with high quality management teams. During the past year, the team announced the planned acquisition of LV=, the second largest mutual life insurer in the UK; launched Keystone Agency Partners, a company that acquires and grows U.S. property & casualty insurance agencies; and formed a long-term strategic partnership with Beat Capital Partners, which invests in specialty insurance distribution start-ups.
Based in Fort Lauderdale, Florida, Enhance Health was founded with a simple premise: empower seniors to get the right care for their specific needs through extensive consumer education and unwavering dedication to consumer service. Medicare can be complex and overwhelming, so Enhance Health combines digital tools with high-touch care to simplify the process of enrolling and ultimately utilizing Medicare Advantage plans. As a rapidly growing technology-enabled distribution platform, Enhanced Health’s mission is to guide today’s seniors on a better, more enjoyable Medicare journey ending in better health outcomes.
Bain Capital Insurance is the dedicated insurance investing and solutions business of Bain Capital, a leading global private investment firm with over $150 billion under management across 22 offices on four continents. Bain Capital Insurance’s team has been executing on the organization’s insurance investing strategy for over 20 years and has committed over $1 billion in equity since partnering with Bain Capital in 2018. Bain Capital Insurance’s cross-functional senior team averages two decades of expertise across industry subsectors, with a proven track record of crafting creative solutions to complex challenges to drive growth. Bain Capital Insurance collaborates with leading insurance businesses and management teams to unlock value and drive innovation across the insurance industry, specializing in insurance investing strategies that span the entire value chain and growth spectrum – from catalyzing transformational change, creating new platforms, stepping into capacity-driven dislocations, to partnering with industry participants to meet their long term strategic and investment portfolio return targets.
This was reported by Enhance Health, LLC on November 5, 2021.
Contact information: Charlyn Lusk, Stanton Media Contact for Enhance Health and Bain Capital Insurance, 880 3rd Avenue, New York, New York 10022; 646-502-3549; Email: clusk@stantonprm.com; Website: https://enhancehealth.com/
