Shore Capital Partners Announces Recapitalization of Point C through its Healthcare Advantage Fund

Continued partnership positions Point C to support self-funded insurance utilization and healthcare benefits transparency.

Shore Capital Partners (“Shore Capital” or “Shore”), a Chicago-based private equity firm with offices in Nashville, announced its strategic investment in support of the recapitalization and growth of Point C (the “Company”), a third party administrator (“TPA”) of medical benefits, cost containment and other administrative services for self-insured employers. Point C, an existing Shore Capital Healthcare Partners Fund III portfolio company since 2019, was recapitalized through Shore Capital’s Healthcare Advantage Fund (“Advantage Fund” or the “Fund”).

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Point C was formed through its initial partnership with Benefit Plan Administrators and grew to become a leading company in the TPA industry with a combination of organic growth, acquisition, and investment. Company Chairman and Shore Founding Partner Ryan Kelley commented, “This has been one of the most professionally rewarding investments of my career. Seeing the business grow exponentially in five years speaks to the power of vision and flawless execution by Ben Frisch and the entire management team. The business is exceptionally well-positioned for future growth, making the recap to our inaugural Advantage Fund a compelling opportunity. With rising healthcare costs driving strong self-funding and TPA tailwinds, I look forward to seeing Point C continue to expand and deliver impactful solutions in its next chapter with Shore Capital.”

Ben Frisch, Chief Executive Officer of Point C, also spoke about the journey. “Over the past five years, Point C has become the fastest growing TPA in our market through our unwavering focus on reducing medical spend for our customers. The entire management team is excited to continue our partnership with Shore Capital, whose resources and support will allow us to further invest in our organization, capitalize on a robust pipeline of acquisition opportunities, and pursue additional cost containment solutions.”

The Advantage Fund, led by Founding Partners Mike Cooper and John Hennegan, builds on Shore Capital’s successful track record of investing in and developing market-leading companies across sectors. The Fund will invest in a combination of external companies and currently held microcap portfolio companies, while maintaining a sector-driven and operationally-focused approach. Point C is the first investment in the Advantage Fund. The Fund was announced in October and exceeded its fundraising target.

Going forward, Point C’s independent board members include Jim Foreman, Hilarie Aitken, Rob Butler, John Snyder, Mark Waterstraat, and David Young. John Hennegan and Alex Nevill will represent Shore Capital.

Houlihan Lokey served as financial advisor on the transaction, and DLA Piper, Kirkland & Ellis, and Winston & Strawn served as legal advisors.

About Point C

Point C is a leading national provider of support to its network third-party administrators of medical benefits and administrative services for self-funded employers. Point C is committed to supporting TPA partners through business process innovation and product solutions that drive value for employers and enhance the member experience. With a nationwide network, Point C leverages innovative technology and deep industry expertise to provide solutions for cost containment, care management, consumer driven products, and compliance navigation. For more information, visit www.pointchealth.com.

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is an investor in lower middle market companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2024, Shore received recognition from Inc Magazine as a 5x Top Founder Friendly Investor and by Pitchbook Research for being the global leader in Private Equity total deal volume from 2019-2023. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has $9.1 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. For more information on these awards and investment platforms, please visit: www.shorecp.com.

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