PHILADELPHIA, Sept. 30, 2021 /PRNewswire/ -- 1315 Capital, a Philadelphia-based healthcare growth equity firm investing in commercial stage companies across healthcare services, medical devices, and therapeutics / pharmaceutical services, has acquired a majority interest in Homestead Smart Health Plans ("Homestead"), one of the fastest-growing organizations in the reference-based pricing solutions market. Homestead enables employers to operate as self-funded and save significant healthcare costs through its proprietary technology platform and service offerings, which include third-party administration, reference-based pricing, and stop-loss insurance.
Edward Chan, Partner at 1315 Capital, explains, "Homestead offers all three legs of the stool for employers to become self-funded and significantly reduce their healthcare costs. In an environment where healthcare costs continue to grow at an extraordinary pace, Homestead saves companies and their employees money without sacrificing quality or access to care."
1315 Capital is joined by MoonSail Capital and together will provide Homestead the growth capital necessary to continue scaling and delivering quality cost-containment solutions to a national market.
Carlos Rodriguez, Partner at MoonSail Capital, added: "We are excited to partner with 1315 Capital to help Homestead grow its suite of innovative products that help contain the rapid growth of healthcare costs. We are impressed with Homestead's track record of providing real value to its clients."
Bill Green will continue to serve as CEO of Homestead Smart Health Plans: "I am very proud of the significant and consistent growth Homestead has achieved to date. I look forward to the value our partners at 1315 Capital and MoonSail Capital will bring to our mission as we continue to grow on a national level."
About 1315 Capital
1315 Capital is a private investment firm with over $500 million under management that provides expansion and growth capital to commercial-stage healthcare services, medical technology, and therapeutics / pharmaceutical services companies. 1315 Capital targets markets where high-quality management teams can rapidly scale platform companies into large and important businesses that positively impact patients, physicians, and the broader healthcare system. For more information, visit www.1315capital.com.
About MoonSail Capital
MoonSail Capital is a private investment firm with committed capital that invests in and builds leading lower-middle market companies in partnership with founders, operating executives, family offices and independent sponsors. MoonSail has special focus in healthcare services acquisition platforms where it seeks to partner with value-added investor groups in control buyouts. For more information, visit https://moonsailcapital.com.
About Homestead Smart Health Plans
At Homestead, our mission is to create transparent and sustainable health plans and put the power back in the hands of the employer. Homestead Smart Health Plans was formed by health insurance industry insiders from some of the biggest names in the business to solve the core problem of rising costs and decreasing coverage. Our plans are built on a proprietary reference-based repricing system and include stop-loss insurance protection against catastrophic losses as well as third-party administration. For more information, visit www.homesteadplans.com.
SOURCE Homestead Smart Health Plans