Ropes Steers as New Mountain Capital Buys HealthComp from Alpine

Ropes & Gray represented New York-based New Mountain Capital for its acquisition of HealthComp Holding Company LLC, the biggest U.S. independent third party administrator of health care benefits for self-funded employers, according to a statement.

Wilson Sonsini advised Fresno, Calif.-based HealthComp, which was sold by San Francisco-based Alpine Investors. The transaction calls for HealthComp’s CEO and management team to stay in place and invested in the company. No other deal terms were disclosed.

Founded in 1994, HealthComp said it helps its 400,000-plus self-funded employer members address the “dual mandate” in the U.S. health care system: reducing costs and improving clinical outcomes and experience for employees. It does that by providing technology for health care benefits administration, payment integrity and care management services.

Kyle Peterson, managing director at New Mountain Capital, said HealthComp’s scale, track-record, and market reputation make it an ideal platform for developing a next-generation third-party administrator model.

“We see significant opportunity to leverage New Mountain’s capabilities in data and analytics to drive core platform competencies and a unique commercial strategy,” Peterson said.