Vestar Capital Partners invests in Friday Health Plans

April 6, 2021

Vestar Capital Partners, a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments, announced an agreement to lead a $100 million equity investment in Friday Health Plans.  In addition, Friday Health Plans has also secured an additional $60 million in debt financing from Leadenhall Capital Partners.  Proceeds from the transaction will be used to expand into new markets with a focus on technology-driven individual and small-group health insurance.  The transaction is expected to close within 90 days upon receipt of regulatory approvals and the satisfaction of certain closing conditions.

Cain Brothers was engaged to serve as Vestar’s exclusive financial advisor based on its deep domain expertise in the managed care sector.

Headquartered in Denver, Colorado, Friday Health Plans is purpose-built specifically for people and small businesses who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Operational efficiency, top-notch customer service, and smart technology are core to Friday’s consumer-centric approach. Friday currently serves more than 70,000 members in Colorado, New Mexico, Nevada and Texas with plans to expand its offerings into multiple new states each year.

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