Global software investor Insight Partners has made a secondary investment of $92 million in healthcare service business Employer Direct Healthcare (EDH), bringing the company’s valuation to $1 billion.
Existing institutional investors Serent Capital, Redmile Group and Dundon Capital are maintaining their ownership interest in the business, according to the company.
The investment comes on the heels of a series of executive leadership announcements for the healthcare network, including the hire of Amy Dudley as head of communications in October.
Prior to EDH, Dudley worked as a senior adviser for community-based food platform Shef and VP of communications for nonprofit Chan Zuckerberg Initiative. Dudley has also served on Capitol Hill as a communications director to U.S. senator Tim Kaine and press secretary to former Vice President Joe Biden in 2012.
EDH also announced the executive additions of Jamie McLeod as chief growth officer, Jeremy Leventhal as chief product officer, Lindsey Conon as chief client officer and Shelly Towns as chief marketing officer.
Looking ahead to 2024, EDH will continue to build on market momentum and overall growth, including expansion of end-to-end oncology solution Cancer Care Direct and several partnerships with national health plans, navigators and other employer solutions, the company said in a statement.
Insights Partners is a global software investor company headquartered in New York. The firm has over $80 billion in regulatory assets under management as of June 30, 2023, according to the firm. MikeWorldWide serves as Insight’s PR agency.
EDH is based in Dallas, Texas, serving hundreds of self-funded plan sponsors across thousands of employers, representing over 4 million people across the U.S. The EDH network includes more than 3,000 surgeons and oncologists and over 500 facility partners, spanning 157 metropolitan regions across the country.
This article originally appeared on PRWeek US.
