Edgemont Partners Advises Benefit Recovery Group on Its Recapitalization by Thompson Street Capital Partners
Long-term advisory relationship results in Edgemont’s second transaction completed for Benefit Recovery Group
NEW YORK, NY – (VIA BUSINESS WIRE) – August 04, 2022 – Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as exclusive financial advisor to Benefit Recovery Group (“BRG” or the “Company”) on its recapitalization by Thompson Street Capital Partners (“TSCP”). Edgemont’s deal team was led by Managing Director Jeff Swearingen.
Founded in 1999 by Thomas Lawrence, BRG provides subrogation and compensation recovery services to the self-insured employer market. Utilizing its proprietary technology-enabled infrastructure, BRG performs its subrogation services with zero-member disruption, while providing its customers a larger amount and greater transparency of subrogation recoveries.
Said Thomas Lawrence, Founder, BRG, “Edgemont has served as a trusted advisor to BRG for years. This is the second transaction Edgemont has completed on behalf of BRG. We completed a structured minority equity transaction with Abry Partners in 2020 with Edgemont as our advisor and that transaction positioned us for a very successful outcome with TSCP. I couldn’t be happier with Edgemont’s advice, transaction execution, and integrity.”
“Edgemont was completely dedicated throughout the transaction process to helping us find the right partner for BRG’s next phase of growth. TSCP is an excellent cultural and strategic fit with BRG,” said Laura Hescock, CEO, BRG. “Together, we are excited to execute on our vision to not only grow our core subrogation services, but also enhance the value we create for our customers by expanding the services we offer.”
“Health benefits are a soaring expense for large and mid-size employers, which are increasingly utilizing self-funded health plans to proactively manage risk, enhance patient engagement, contain costs and eliminate waste,” said Jeff Swearingen, Edgemont’s Managing Director. “A large and growing ecosystem of specialty outsourcers, such as Benefit Recovery Group, are leveraging innovative technology-enabled solutions and data analytics to help employers resolve pain points in self-funded health plan administration and care coordination. BRG is uniquely positioned in the market with a compelling value proposition for self-funded employers, which seek to contain costs and optimize health outcomes in a manner that eliminates disruption and burden to member employees.”
About Benefit Recovery Group
Benefit Recovery Group (BRG) provides significant cost savings for their clients by recovering dollars through health plan subrogation and compensation recovery services. For more than two decades, they have differentiated themselves by offering superior legal expertise and negotiating leverage, significantly increased recoveries, member-friendly processes, a first-class customer experience, unmatched technology, and continuous innovation. Their clients include health plan administrators and many of the largest Fortune 500 employers in the United States. You can learn more at www.brgsubro.com.
About Edgemont Partners
Now in its 21st year, Edgemont ranks among the most active and best-performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 185+ transactions with an aggregate value of $80 billion+.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.