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Benecon Group, a Lititz, Pa.-based developer of self-funded health benefits programs for small businesses, received a minority investment from Neuberger Berman.
The transaction amount was not disclosed. Neuberger Berman Private Markets will join existing investor TA Associates, a global private equity firm, who will remain majority owner of the company.
The company plans to use the funds to expand its operations and development.
Founded in 1991 by Samuel Lombardo, Benecon develops and manages self-funded health benefit programs for small businesses and provides a complete suite of actuarial, compliance, financial and producer services to employers and employees across the United States. It offers. This service allows employers to manage benefit plan spending and design programs that meet both the strategic needs of the employer and the personal needs of employees. Benecon’s subsidiary ConnectCare3 provides health consulting and clinical services, including patient advocacy, nurse navigation, and chronic disease management.
Commenting on the news, Matthew Kirk, President and CEO of Benecon, said:We continue to execute on our expansion strategy to deliver industry-leading, self-funded healthcare solutions and are excited to continue to further this mission with Neuberger Berman. We look forward to working with TA Associates and Neuberger Berman. Their investment confirms the strength of the platform and its potential for future growth.”
financial small business
2024/02/25
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