Nashville, Tennessee, June 7, 2017- Lucent Health (@LucentHealth), the leading Healthcare Risk Management, Administration and Advisory Services company, announced today that it has acquired Appleton, Wisconsin-based Cypress Benefit Administrators.
Lucent Health Solutions Inc., acquires Cypress Benefit Administrators
Jun 9, 2017 | Uncategorized | 0 comments
Lucent Health strengthens its market presence in the Midwest, Pacific Northwest and Rocky Mountain regions.
Nashville, Tennessee, June 7, 2017- Lucent Health (@LucentHealth), the leading Healthcare Risk Management, Administration and Advisory Services company, announced today that it has acquired Appleton, Wisconsin-based Cypress Benefit Administrators.
Cypress is an award-winning organization and Inc. 5000 Fastest Growing Company. The third acquisition for Lucent Health, Cypress is renowned for its Employer-first commitment to aggressively reducing healthcare costs. Over the past five years, Cypress’ clients have enjoyed a mere 1.68% year-over-year cost increase while also paying 40% below the national average. Cypress’ proven cost-control insights and unique stewardship approach is the gold standard for the TPA industry. Continuing operations as Cypress Benefit Administrators, the company will be managed by its current leadership team.
“I am excited to announce that Cypress Benefit Administrators has joined the Lucent Health family of companies. Cypress shares our strong commitment to empowering employers with health plan data analytics, advanced technology and product innovation that consistently delivers the most affordable health plans with great service, transparency, and accountability to the Employer. We will continue to expand our national footprint with a focus on delivering the transparency and tools employers demand to manage their healthcare spend,” said Brett Rodewald, Lucent Health CEO.
With this acquisition, Lucent Health has strengthened its market presence in the Midwest, Pacific Northwest and Rocky Mountain regions. Lucent Health now manages healthcare for over 200,000 members and 650 employer groups across the country for a variety of industries and group sizes.
“Lucent Health continues to lead the industry in providing actionable data insights to Employers while also delivering innovative methods and products to aggressively reduce healthcare costs. We’re proud to join Lucent Health, and we look forward to continued growth with a focus on delivering data and savings for our Employer clients,” said Cypress Benefit Administrators’ President, Tom Doney.
About Lucent Health
Lucent Health (@LucentHealth), based in Nashville, TN and in partnership with NaviMed Capital, empowers US employers with vital healthcare plan performance data and reduces healthcare risks and costs while improving employee access to innovative healthcare services. Lucent offers a wide range of innovative technology-driven products which lead the industry, including Lucent Traditional, Lucent Clarity™ value-based payments, e2MEC/MV™ solutions, Lucent Vista™ level funded, Lucent Tribia™ a tribal enterprise health plan and Lucent Surity™ for captives.
About NaviMed Capital
NaviMed Capital is a Washington, DC-based private capital firm focused exclusively on the healthcare industry. NaviMed makes substantial investments in fast growing lower middle market healthcare businesses. The firm focuses on healthcare services, healthcare IT, hospital products, and distribution businesses, which are poised to benefit from the reform and technology innovation forces reshaping the healthcare industry. NaviMed targets profitable private companies with up to $10 million of EBITDA and double digit revenue growth. NaviMed seeks investments which can benefit from its deep industry expertise, broad relationship network and combined 50+ year track record of success as healthcare investors and operators. NaviMed’s senior investment team has a track record of value creation spanning dozens of investments and more than $6.5 billion of enterprise value created.
Lucent Health contact:
Mark Stephen Ware
