Press Release
FORT LAUDERDALE, Fla., October 26, 2021 – Health Network One, a leading provider of specialty benefit management services for health insurers, announced today a strategic partnership with H.I.G. Capital ("H.I.G.") that will allow the company to accelerate delivery of significant and tangible value to leading health plans through alternative payment models.
Since 2017, Health Network One has more than doubled in size. For more than 5,000,000 covered lives, it has dramatically increased access to high-quality and convenient healthcare through the company’s comprehensive network of over 10,000 providers and dedicated in-house clinical expertise. The company employs more than 250 individuals -- 200 in Florida -- to serve a growing health plan customer base that includes many of the nation’s leading managed care organizations.
The new partnership will support Health Network One to further invest in technology and innovation, boost marketing and communications, enhance clinical solutions and services to ensure best-in-class outcomes, and accelerate growth with existing and new clients. The company will focus on expanding its market coverage and network reach beyond its current footprint, targeting growth opportunities across the east coast and Mid-Atlantic regions.
“We are enthusiastic to enter into this new chapter of growth with H.I.G. Capital,” said Luis Mosquera, CEO of Health Network One. "Over the last two decades, we have built an outstanding business model, as evidenced by our industry-leading provider network and our strategic partnerships with over 20 market-leading health plans. This alliance with H.I.G. will allow us to better serve our health plans and their members, while continuing to operate as a strategic partner to our dedicated provider network.”
Health Network One operates several specialty networks for leading managed care organizations, including the largest outpatient therapy network in every one of its markets. It will also continue to expand its specialized team to meet the growing market demand for managed care.
“Our unique model supports a rare win-win-win in healthcare,” stated Dr. Mary McCluskey, the company’s Chief Medical Officer. “We are able to improve clinical quality and provider satisfaction, continually expand member access to care, while simultaneously delivering cost savings to health plans. This partnership will help amplify our capabilities.”
Marty Bilowich, President of Health Network One, also shared, “Beyond expanding our technology capabilities, we’re using this investment as an opportunity to enhance our marketing efforts, which includes consolidating all of our therapy networks under a singular brand and changing the name of our Florida therapy division from American Therapy Administrators of Florida to Therapy Network of Florida.”
"We are excited to partner with Health Network One’s exceptional team," said Camilo E. Horvilleur, Managing Director at H.I.G. Capital. "The company’s track record of member and health plan growth is a testament to management’s focus on outstanding clinical quality, exceptional service, and an effective value-based care model.”
To learn more about Health Network One and its trailblazing approach to driving guaranteed medical cost savings for many of the leading managed care organizations, visit healthnetworkone.com.
About Health Network One
Headquartered in Fort Lauderdale, Florida, Health Network One was founded in 1999 and has 250 dedicated employees. The company operates under several different brands, including: Health Network One, HS1 Medical Management, HN1-Therapy Network, Eye Management, and American Therapy Administrators of Florida.
Health Network One manages provider networks across multiple specialties, including Physical, Occupational, and Speech Therapy; Dermatology; Vision and Ophthalmology; Podiatry; Gastroenterology; and Urology. Leveraging its capitated payment solution and custom back-office technology, it partners with industry-leading health insurance companies to provide care to over 5 million members through its network of 10,000 providers. In addition to its provider network, the business also offers utilization management, claims management, and credentialing administrative services. Health Network One is NCQA accredited and HITRUST certified.
For more information about the company, please visit www.healthnetworkone.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.