New York private equity firm Warburg Pincus joins Quantum Health ownership group

Warburg Pincus LLC, a New York City firm, announced a “significant” investment, along with a returning investment from Great Hill Partners LLC,  hich bought a majority stake in 2017. Terms were not disclosed.

The capital helps speed rapid growth as the Dublin health benefits counseling service adds technology and jobs. It was not immediately clear from a news release which firm is now the company’s majority owner.

Warburg brings success and expertise in healthcare and technology, while Boston-based Great Hill  continues its contributions to the company’s acceleration, Quantum founder and CEO Kara Trott said in a release.

“We are confident that partnering with these two marquee investors will enable us to further innovate, while we continue to provide our differentiated member experience and reduced healthcare costs for employers,” she said.

Quantum clients are about 400 employers covering 1.7 million employees and dependents. Its coordinators help decipher planbenefits and make key decisions about what’s covered and where to seek healthcare, especially during a crisis like a cancer diagnosis.

Warburg principals believe that it could serve a population of 100 million.

“Quantum Health has built a premier platform enabling customers to seamlessly navigate the often complex healthcare ecosystem,” T.J. Carella, a managing director, said in the release.

Quantum has 1,400 employees, up from more than 800 a year ago when it chose to move to Dublin from Columbus after outgrowing a Crosswoods office building. It’s renovating and already expanding in the former Ashland complex on Blazer Parkway.

Also this month in Ohio, Warburg acquired Cleveland-based Sweeping Corporation of America, a street sweeping service that in January had acquired Columbus’ Contract Sweepers & Equipment Co.

Source: Columbus Business First