Press Release

Mesirow Advises Gilsbar on the Sale of its TPA and Care Management Divisions to HealthComp

  • Gilsbar is a leading, independent third-party administrator providing a fully-integrated approach to health benefit plan administration and care management programs

  • Partnership will advance HealthComp’s establishment of a leading, national TPA of self-insured health plans

  • Highlights the firm’s expertise and relationships within the healthcare industry

CHICAGO, January 20, 2022 – Mesirow, an independent, employee-owned financial services firm, today announced it acted as the exclusive financial advisor to Gilsbar Holdings, LLC (“Gilsbar” or the “Company”) on the sale of its Third-Party Administrator (TPA) and Care Management (“MedCom”) divisions to HealthComp Holding Company LLC (“HealthComp”), a leading independent TPA of healthcare benefits for self-funded employers and portfolio company of New Mountain Capital, LLC.

Based in Covington, LA, the Company’s TPA division provides a fully-integrated approach to benefit plan administration, which includes sophisticated technology and personalized service. Gilsbar delivers care management programs designed to positively impact employee health and well-being through MedCom, the Company’s in-house care management division. By leveraging Gilsbar’s unmatched customer service, comprehensive solutions and national presence, this partnership will advance HealthComp’s establishment of a leading, national TPA of self-insured health plans.

Ryan Haun, CEO of Gilsbar Holdings, LLC, said “Mesirow’s ability to tailor a transaction process to meet our specific objectives proved instrumental in finding the ideal partner to invest in the TPA’s continued growth and success. Drawing upon their substantial experience and deep industry relationships, the Mesirow team secured the optimal outcome for all parties.”

“We greatly valued the opportunity to advise Gilsbar throughout this transaction,” said Lance Bell, Managing Director of Mesirow Investment Banking. “For more than 60 years, the Company has committed itself to providing best-in-class service and capabilities and represents a compelling platform for growth. We believe HealthComp will maintain the Company’s industry-leading reputation and invest in Gilsbar’s ability to deliver even greater value to the TPA market.”

The sale of Gilsbar’s TPA and Care Management divisions represents another successful assignment completed by Mesirow Investment Banking and highlights the firm’s expertise within healthcare industry. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep longstanding relationships, Mesirow has a proven track record of completing highly tailored, complex and successful transactions on behalf of its clients.

About Mesirow
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com and follow us on LinkedIn.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.

About Gilsbar
Established in 1959, Gilsbar Holdings, LLC® is one of the largest privately held insurance services organizations in the country. Recognized as a catalyst for creating healthy businesses while delivering health plan savings, Gilsbar, LLC offers self-funded and fully-insured benefit plan management services, along with Wellness, Advocacy, and overall Population Health Management. Gilsbar Specialty Insurance, LLC and Gilsbar Group Benefits, LLC are industry leaders in their fields of professional liability insurance retail and benefits advisory and brokerage, respectively.

Gilsbar has been honored by Inc. magazine for its sustained growth, Modern Healthcare and Business Insurance magazines as a Best Place to Work, and WELCOA and the American Heart Association for its proven wellness methodology. For more information, visit www.Gilsbar.com.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with Gilsbar Holdings, LLC, HealthComp Holding Company LLC, New Mountain Capital, LLC, or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

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