NEW YORK–(BUSINESS WIRE)–Cresso Health, a technology-enabled provider of sales and marketing solutions for leading health insurance carriers in the United States, today announced it has acquired Florida-based GPS Insurance (“GPS”), a distributor of health insurance and related products. Cresso Health is backed by New York-based healthcare investor Cypress Ridge Capital.
Kevin Reich, Founder of GPS, said, “Cresso shares GPS’s long-standing commitment to putting the customer first while helping them navigate the ever-evolving medical insurance landscape. We are thrilled to join the Cresso team and look forward to working together to achieve our shared goals.”
The acquisition will expand the company’s field presence, further establishing Cresso Health as a leader in insurance distribution. GPS will benefit from Cresso’s extensive network and deep relationships with major insurance carriers, while also accessing its advanced distribution infrastructure including cutting-edge technology, proprietary marketing and lead-generation tools and a robust compliance toolkit. The combined Cresso Health and GPS platform will have 250+ agents and distribute a range of insurance products from the country’s leading carriers.
“We are pleased to join forces with Kevin and the GPS team,” said Frank Pistone, CEO of Cresso Health. “We believe this partnership will accelerate our company’s mission of being an omni-channel, multi-product platform, and allow us to better-serve the individual health plan market.”
About Cresso Health
Cresso Health is a member acquisition and enrollment platform focused exclusively on the individual health plan market. The company markets and distributes health insurance products on behalf of leading insurance carriers through its network of independent agents and agencies. For more information, please visit http://www.cressohealth.com.
About Cypress Ridge Capital
Cypress Ridge Capital is a New York-based investment firm focused exclusively on healthcare. The Firm is dedicated to building sustainable businesses across the healthcare ecosystem that improve quality and efficiency, augment patient experience and drive innovation. Cypress Ridge’s growth-oriented approach is highly thematic, leveraging deep industry expertise and an extensive network of functional experts to identify and execute investments, accelerate growth, and drive value creation. For more information, please visit http://www.cypressridgecap.com.
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