Business Desk 
Shore Capital Partners (“Shore Capital” or “Shore”), a Chicago-based private equity firm with offices in Nashville, announced its strategic investment in support of the recapitalization and growth of Point C (the “Company”), a third party administrator (“TPA”)of medical benefits, cost containment and other administrative services for self-insured employers.
Point C, an existing Shore Capital Healthcare Partners Fund III portfolio company since 2019, was recapitalized through Shore Capital’s Healthcare Advantage Fund (“Advantage Fund” or the “Fund”).
Point C was formed through its initial partnership with Benefit Plan Administrators and grew to become a leading company in the TPA industry with a combination of organic growth, acquisition, and investment. Company Chairman and Shore Founding Partner Ryan Kelley commented, “This has been one of the most professionally rewarding investments of my career.
Seeing the business grow exponentially in five years speaks to the power of vision and flawless execution by Ben Frisch and the entire management team.
The business is exceptionally well-positioned for future growth, making the recap to our inaugural Advantage Fund a compelling opportunity.
With rising healthcare costs driving strong self-funding and TPA tailwinds, I look forward to seeing Point C continue to expand and deliver impactful solutions in its next chapter with Shore Capital.”
Ben Frisch, Chief Executive Officer of Point C, also spoke about the journey. “Over the past five years, Point C has become the fastest growing TPA in our market through our unwavering focus on reducing medical spend for our customers.
The entire management team is excited to continue our partnership with Shore Capital, whose resources and support will allow us to further invest in our organization, capitalize on a robust pipeline of acquisition opportunities, and pursue additional cost containment solutions.”
The Advantage Fund, led by Founding Partners Mike Cooper and John Hennegan, builds on Shore Capital’s successful track record of investing in and developing market-leading companies across sectors.
The Fund will invest in a combination of external companies and currently held microcap portfolio companies, while maintaining a sector-driven and operationally-focused approach.
Point C is the first investment in the Advantage Fund. The Fund was announced in October and exceeded its fundraising target.
Going forward, Point C’s independent board members include Jim Foreman, Hilarie Aitken, Rob Butler, John Snyder, Mark Waterstraat, and David Young. John Hennegan and Alex Nevill will represent Shore Capital.
Houlihan Lokey served as financial advisor on the transaction, and DLA Piper, Kirkland & Ellis, and Winston & Strawn served as legal advisors.
