WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–Jun 1, 2022–
Warner Pacific (the “Company”), a leading employee benefits–focused General Agency with locations in California, Colorado, and Texas, announced today the acquisition of Beta Health Association’s (“Beta Health”) commercial dental health platform. Beta Health was a provider of group voluntary and contributory dental, vision, life, and disability products in Colorado prior to the acquisition. This is the Company’s first acquisition since entering into a strategic partnership with private equity firm Lovell Minnick Partners in January 2022. Terms of the transaction were not disclosed.
Over the past 26 years, Beta Health has expanded from its singular product line, the Alpha Dental Plan, to offer a wide variety of dental and vision plans through partnerships with national carriers. The acquisition of Beta Health’s commercial dental health platform will expand Warner Pacific’s product offerings and industry partnerships while strengthening the Company’s presence in the West and adding to its operational and sales expertise in ancillary products. With these partnerships, customers can choose dual product offerings, pairing a Beta Health dental savings plan with dental plans from national carriers.
“Over the years, we’ve seen firsthand the value that Beta Health’s dental health platform can provide through its longstanding industry relationships,” said John Nelson, co-CEO of Warner Pacific. “By combining Warner Pacific’s complementary marketing capabilities with Beta Health’s preexisting commercialized platform, we’re confident that we can create even greater value for the industry we serve.”
“This acquisition is a testament to our longtime relationship with Beta Health and their unique ability to forge strong partnerships with national carriers,” added Dave Nelson, co-CEO of Warner Pacific. “By building on their success in the commercial dental health space, we can now pair our product offerings with a Beta Health dental savings plan, giving brokers even greater savings for their clients.”
“We’ve watched Warner Pacific’s growth for many years and have known them to not only be deeply experienced leaders in the employee benefits space but a company whose values align with our own,” said Mark Thompson, president of Beta Health. “We’re excited to expand our relationship with Warner Pacific and focus on growing our dental savings plan membership in Colorado, California, and Texas.”
About Warner Pacific
With over $4.2 Billion of in-force premium, servicing more than 50,000 employers, Warner Pacific is a top-producing General Agency for many of the nation’s largest insurance carriers. Warner Pacific provides insurance agents in California, Colorado and Texas with sales assistance, innovative technology and back-office service.
While best known as a leader in the Small Group health insurance market Warner Pacific supports agents across multiple insurance markets – from Individual, Medicare, and Large Group, to Dental, life insurance, benefits administration and workers’ compensation. Warner Pacific, a company of over 300 employees, is known for its innovating approaches, industry leadership, and a team with decades of experience in the health insurance space. Learn more about the company here.
About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in financial services, financial technology and related business services. They partner with outstanding management teams to help grow their companies and build value for investors through a combination of driving growth initiatives, strategic activity and operational improvements. Since their inception in 1999, they have become a leader in their chosen space, raising $3.5 billion of committed capital from leading institutional investors.
Lovell Minnick Partners seek to invest in management-driven, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which they specialize include financial technology; payments; insurance brokerage and services; wealth and asset management; and related business services.
About Beta Health
Beta Health Association, Inc., based in Denver, Colorado, has specialized in group dental, vision, life, and disability products for more than 30 years. Their products offer members the flexibility of selecting from more than 300,000 providers in 48 states and the ability to select the plan options that best meet their individual needs. Their wide selection of national individual dental and vision plan products can be found at www.alphadentalplans.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220601005504/en/
CONTACT: MediaWarner Pacific Insurance
Jordan Rapp@warnerpacific.comBeta Health
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: GENERAL HEALTH FINANCE OTHER HEALTH HEALTH PROFESSIONAL SERVICES
SOURCE: Lovell Minnick Partners
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PUB: 06/01/2022 11:00 AM/DISC: 06/01/2022 11:02 AM