NORTH HAMPTON, N.H., Aug. 3, 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 growth and 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 experts believe the valuation of Paradigm Health Plans to be 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 extend the reach of our sales and marketing nationally,” said Dennis LaBrasca, Chief Executive Officer of Paradigm Health Plans. “Importantly, the expertise that V.J. Dowling, James Zech and Clem Dwyer bring to Paradigm Health Plans provides a strong and experienced investment partner to support our continued success. After we were initially approached by the investment group, it was immediately clear that their investment and advisory would only further our progress and national expansion.”
Paradigm Health Plans has had rapid expansion in northeastern United States and closed 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 and other offices nationally.
Dowling & Associates was founded in 1990 by Vincent J. Dowling, initially focused on property and casualty reinsurers, today the firm specializes in three primary verticals with formal coverage of more than eighty stocks. Dowling & Associates has been consistently recognized by Greenwich Associates and Institutional Investor as the top rated insurance research provider and industry source.
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(SM), Lifestyle-for-Life® Health Management program and receive access to a local, regional and national network of physicians and hospitals.
SOURCE Paradigm Health Plans