TIMONIUM, Md., May 2, 2024 /PRNewswire/ — SG Benefit Providers, a leading insurance company, has announced the successful acquisition of Medicare Group USA for over $5 million. This strategic move marks a significant milestone for SG Benefit Providers, expanding its portfolio to include five insurance companies. The acquisition has propelled SG Benefit Providers to triple its size, surpassing last year’s $8 million in revenue within the first quarter.
CEO Steven Reech expressed his excitement about the acquisition, stating, “We are pleased to welcome Medicare Group to the SG family and build a dream team together.” CMO Anthony Miller expressed his excitement about the tech and marketing aspect “This acquisition also helps our ability to provide innovative insurance solutions to our clients and develop more IP.”
The acquisition was facilitated with the assistance of ThinkEquity, serving as the advisor to the company on financing. Additionally, their lending partner REV Capital provided a $2 million line of credit with the option to increase to $3 million, enabling SG Benefit Providers to execute its growth strategy effectively.
Co-Founder of Medicare Group, Tim Wyatt, shared his enthusiasm about joining forces with SG Benefit Providers, stating, “My Co-Founder Andy Rathamn and I are delighted to find a great home with SG Benefit Providers. This partnership will allow us to continue serving our clients with the same dedication and commitment to excellence.”
Chief Strategy Officer Blake Van Leer expressed his gratitude for the opportunity to contribute to SG Benefit Providers’ growth strategy, stating, “I’m grateful to be of service to SG and help execute their vision for an M&A and organic growth towards our roadmap, which consist of over $100M in revenue. This acquisition certainly helps expedite the process.”
The acquisition of Medicare Group USA underscores SG Benefit Providers’ commitment to expanding its market presence and delivering exceptional value to its clients. With a strengthened portfolio and expanded resources, SG Benefit Providers is well-positioned for continued success in the insurance industry.
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Blake Van Leer
CSG, Partner
2025258717
377088@email4pr.com
About SG Benefit Providers:
SG Benefit Providers is a leading insurance company dedicated to providing innovative insurance solutions to individuals and businesses. With a focus on customer-centricity and innovation, SG Benefit Providers aims to empower its clients with comprehensive insurance coverage and unparalleled service.
SOURCE SG Benefit Providers
