MELVILLE, N.Y., Aug. 4, 2015 /PRNewswire/ -- Paradigm Health Plans®, an industry leader in ERISA-based health plan products and services, announced their new agreement with a private investment group, led by Vincent "V.J." Dowling of Dowling & Associates, Clem Dwyer and James Zech, to acquire a minority interest in Paradigm Health Plans.
This partnership provides the capital and industry expertise that will enable Paradigm Health Plans to increase market share in the self-funded and large group health plan segment. Paradigm Health Plans leadership has positioned the firm for rapid national expansion of their product and service portfolio. Paradigm Health Plans is a privately held company. The terms of the transaction were not immediately disclosed. Industry analysts value the transaction at approximately $125-$130 million.
"This investment provides a strong financial foundation to support our company in furthering our unique health plan model, invest in our products and services and extends the reach of our sales and marketing nationally," said Dennis LaBrasca, Chief Executive Officer of Paradigm Health Plans. "After we were initially approached by the investment group it was immediately clear that their investment and advisement would only further our progress and national expansion."
Paradigm Health Plans has expanded rapidly in the northeastern United States, closing the fourth quarter of 2014 with a six hundred percent increase over projected revenues. Paradigm Health Plans has corporate offices in North Hampton, New Hampshire, and Melville, New York; with offices nationally.
Dowling & Associates was founded in 1990 by Vincent J. Dowling, and was initially focused on property and casualty reinsurers. Dowling & Associates has been consistently recognized by Greenwich Associates and Institutional Investor as the top rated insurance research provider and industry source. Dowling & Hales, LLC served as the exclusive financial advisor to Walker Winslow Group, LLC doing business as Paradigm Health Plans.
ABOUT PARADIGM HEALTH PLANS®
Founded in 2007, Paradigm Health Plans (www.paradigmhealthplans.org) is an industry leader in self-funded health plans, partnering with businesses to empower employees to actively manage their health care costs through our Member Advantage Program℠ and Lifestyle-for-Life® Health Management program.
SOURCE Paradigm Health Plans