M&A Deal Summary

CareFirst BlueCross BlueShield Acquires Trusted Health Plan

On January 31, 2020, CareFirst BlueCross BlueShield acquired healthcare services company Trusted Health Plan from Juggernaut Capital Partners

Acquisition Highlights
  • This is CareFirst BlueCross BlueShield’s 1st transaction in the Healthcare Services sector.
  • This is CareFirst BlueCross BlueShield’s 1st transaction in the United States.
  • This is CareFirst BlueCross BlueShield’s 1st transaction in District of Columbia.

M&A Deal Summary
Date 2020-01-31
Target Trusted Health Plan
Sector Healthcare Services
Buyer(s) CareFirst BlueCross BlueShield
Sellers(s) Juggernaut Capital Partners
Deal Type Add-on Acquisition

Target

Trusted Health Plan

Washington, District of Columbia, United States
Trusted Health Plan is a high-performing managed care organization serving enrollees of the DC Healthy Families Medicaid Program and the DC Healthcare Alliance Program. In operation since 2013, Trusted now manages the care of over 34,000 enrollees, and employs over 125 full-time employees. Trusted was the first Medicaid managed care organization in D.C. to introduce Wellness Centers, giving enrollees access to face-to-face health education, case management, and nutritional counseling in centers located in Wards 4, 7, and 8. Trusted Health Plan is based in Washington, D.C.

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Buyer(S) 1

Buyer

CareFirst BlueCross BlueShield

Baltimore, Maryland, United States
Category Company
Founded 1934
Sector Insurance
DESCRIPTION

CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, through its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products and administrative services to 3.2 million individuals and groups in Maryland, the District of Columbia and Northern Virginia. In 2018, CareFirst invested $38 million to improve overall health, and increase the accessibility, affordability, safety, and quality of health care throughout its market areas.

DEAL STATS #
Overall 1 of 3
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (District of Columbia) 1 of 1
Country (United States) 1 of 3
Year (2020) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-27 University of Maryland Health Partners

Timonium, Maryland, United States

University of Maryland Health Partners (UMHP) is a Medicaid Managed Care Organization that offers a health plan that combines personal attention with world-class healthcare. Benefits include a large provider network and excellent customer service with the resources of one of America’s leading university medical systems. University of Maryland Health Partners was formed in 2011 and is based in Timonium, 21093, Maryland.

Buy -

Seller(S) 1

SELLER

Juggernaut Capital Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Juggernaut Capital Partners (JCP) is a private equity firm that targets middle market consumer products and business services companies throughout the US. The Firm seeks majority and minority stakes where it can commit $10 to $50 million of equity capital. JCP will consider a variety of transaction types, including buyouts, restructurings, and recapitalizations. Juggernaut Capital Partners was formed in 2009 and is based in Washington DC.

DEAL STATS #
Overall 5 of 9
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (District of Columbia) 2 of 2
Country (United States) 5 of 9
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 3STEP Sports

Andover, Massachusetts, United States

3STEP Sports is a premier, inspiring and authentic experience – dedicated to perfecting every aspect of the athlete funnel. The 3STEP reach spans 43 states and serves more than 3.2 million athletes across nine sports through industry-leading events, nationally spanning club programs, premier media content and more. 3STEP Sports was founded in 2016 and is based in Andover, Massaachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-18 Metuchen Pharmaceuticals

Freehold, New Jersey, United States

Metuchen Pharmaceuticals is a men’s health-focused specialty pharmaceutical company. The company identifies, acquires, develops and commercializes products that have significant clinical advantages and patent protection. Metuchen has a full range of commercial capabilities including sales, marketing regulatory and medical affairs, finance, trade relations, pharmacovigilance, managed care customer management, manufacturing and distribution. Metuchen Pharmaceuticals was founded in 2016 and is based in Freehold, New Jersey.

Sell -
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