Ryan Specialty to buy parts of Point6 Healthcare
Ryan Specialty has signed a definitive agreement to acquire certain assets of Point6 Healthcare, a distributor of medical stop loss insurance, pharmacy solutions, and complex claims management on behalf of retail brokers and third-party administrators.
Point6 is based in Plano, Texas. The terms of the transaction were not disclosed and the acquisition is expected to close in July 2023.
Discussing the deal, Pat Ryan, founder, chairman & chief executive of Ryan Specialty said: “Point6 and their talented team will provide foundational benefits capabilities to Ryan Specialty. With this cornerstone competence and expertise, Ryan Specialty will make it possible for retail brokers and third-party administrators to access leading healthcare solutions on behalf of their clients.”
“Point6 has built a solution set that is mission-critical for retail brokers and third-party administrators seeking to help their clients in bending the cost curve,” said John Zern, president & chief executive of Ryan Specialty Benefits. “Point6 addresses fundamental pain points for self-funded employers: financial certainty, drug pricing, and complex claims. I am excited to work with Jeff Miller and the Point6 team as we seek to accelerate and extend Point6’s remarkable growth trajectory.”
Jeff Miller, chief executive of Point6, remarked, “Since our founding in 2018, Point6 has been focused on developing innovative solutions to address rapidly escalating healthcare costs. We have seen great adoption of these solutions and now is the right time to expand our distribution strategy and solution innovation by partnering with Ryan Specialty. This is an incredible opportunity for the key stakeholders we serve and our employees.”