EasyHealth Secures $100 Million Senior Secured Loan Commitment from Victory Park Capital
Nov 23, 2021
CHICAGO – November 23, 2021 – Victory Park Capital (“VPC”), a leading global alternative investment firm, announced today that it has closed a deal to create a $100 million debt facility for EasyHealth, a digital insurance brokerage on a mission to radically simplify health insurance. The debt facility will allow EasyHealth to rapidly scale its agency and offer value added commission financing to other agencies selling insurance on the EasyHealth Medicare platform.
Medicare Advantage is one of the fastest-growing health insurance markets in the United States and the average enrollee can select from 33 Medicare Advantage plans, making it hard for consumers to make informed health insurance decisions. EasyHealth leverages technology to provide a simplified experience for customers to obtain tailored Medicare Advantage Plans, Medicare Supplement and Prescription Drug Plans. The company’s differentiated platform-plus-services approach drives better health outcomes and retention by connecting coverage and care, offering at home and online wellness visits, simplified care navigation and chronic care management.
“Navigating the process of selecting a Medicare plan can be complicated and confusing,” said David Duel, EasyHealth CEO. “Our technology and streamlined policy selection process enables us to identify the best Medicare plan for each individual customer, making enrollment stress-free. We have a strong commitment to maintaining relationships with our customers and ensuring that they are receiving the care and attention that they need throughout the lifecycle of their policies.”
“As an industry leader, EasyHealth is well-positioned to capture future growth opportunities as enrollment in healthcare plans continues to increase,” said Connell Hasten, partner at VPC. “The Medicare enrollment process has been ripe for improvement over the course of many years, and we are strong supporters of EasyHealth’s differentiated approach and vision.”
“VPC is proud to support EasyHealth with a flexible financing solution that will enable continued tech disruption in health insurance,” said Jason Brown, partner at VPC. “We look forward to partnering with their growing team as they continue reducing barriers for Americans to enroll in the Medicare plans suitable to their individual needs.”
About Victory Park Capital
Victory Park Capital is a global alternative investment firm that provides capital to emerging and established businesses in the U.S. and abroad. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities, broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional resources in New York, Los Angeles and Austin. VPC is privately held and a Registered Investment Advisor with the SEC. For more information, please visit www.victoryparkcapital.com.
EasyHealth is a tech-enabled health marketplace and a leader in the InsureTech space. We’re reinventing the Medicare insurance member experience, making it easier to buy, sell and use. We use technology in simple, scalable ways, to make big differences in the member experience. We are member obsessed and we’re on a mission to improve health options and outcomes for 60 million Medicare-eligible Americans.
Victory Park Capital
Jordan Niezelski, Edelman
Merrill Freund, Freud PR