Frontier Acquistion of Asserta Health Valued At $10,000,000

September 25, 2024

Bell Nunnally Represents Primary Care Network Frontier Direct Care in $10M Acquisition of Health Plan Provider Asserta Health

SOURCE: Bell Nunnally & Martin LLP

Bell Nunnally, led by Partner Ray A. Balestri and Senior Associate Joshua T. Smith, represented Harlingen, Texas-based primary care provider network Frontier Network, Inc. (d/b/a Frontier Direct Care) in its acquisition of Salt Lake City, Utah-based Asserta Health Inc. Asserta offers employers access to a cash-driven health plan, enabling self-insured and level funded employers to deliver health care benefits to their plan members. The deal, executed through stock-for-stock exchange, had an estimated value of $10 million.

Frontier Direct Care Investor Site – Excerpt Below:

It was a productive quarter for Frontier Health both in Sales as well as in Operations. On the Sales front, we’re finally starting to see what our partnership with Marsh McLennan Agency (MMA) will look like. Both parties dedicated a lot of time this quarter to see what it would look like to work together, and as an outcome, we received some solid leads both in the public as well as private sectors. Moving forward into Quarter 3, we believe we’ll be even more effective as a partnership.

Also, closing Leander ISD was a huge success as it was our first school district contract we’ve closed, and a big one at that! This win positions us as a key player in the public space for self-insured employers. We’re certain that by closing one school district, we open the doors to many more.

In Operations, we finally finished the fundamental stages of integrating Asserta Health and Frontier Health, and we’re confident to finish the integration at the close of Q3. Moving forward, Asserta will be known as Frontier Direct Pay, the component that is responsible for care navigation and contract negotiation. By integrating with Asserta, we’re seeing the thesis of bringing our two company together come to fruition. 

We are also excited to announce that we are kicking off our Series B investment, with a goal of raising $20 million. These funds will help fuel our continued growth and allow us to take on the sales coming this year and next. Please reach out directly if you are interested in participating in Series B.