CHICAGO–(BUSINESS WIRE)–Ryan Specialty, a leading international specialty insurance firm, is pleased to announce it has signed a definitive agreement to acquire certain assets of Point6 Healthcare, a distributor of medical stop loss insurance, pharmacy solutions, and complex claims management on behalf of retail brokers and third party administrators. Point6 is based in Plano, TX.
Discussing their benefits strategy, Pat Ryan, Founder, Chairman & CEO of Ryan Specialty said, “Point6 and their talented team will provide foundational benefits capabilities to Ryan Specialty. With this cornerstone competence and expertise, Ryan Specialty will make it possible for retail brokers and third party administrators to access leading healthcare solutions on behalf of their clients.”
John Zern, President & CEO of Ryan Specialty Benefits, commented, “Point6 has built a solution set that is mission-critical for retail brokers and third-party administrators seeking to help their clients in “bending the cost curve”. Point6 addresses fundamental pain points for self-funded employers: financial certainty, drug pricing, and complex claims. I am excited to work with Jeff Miller and the Point6 team as we seek to accelerate and extend Point6’s remarkable growth trajectory.”
Jeff Miller, CEO of Point6, remarked, “Since our founding in 2018, Point6 has been focused on developing innovative solutions to address rapidly escalating healthcare costs. We have seen great adoption of these solutions and now is the right time to expand our distribution strategy and solution innovation by partnering with Ryan Specialty. This is an incredible opportunity for the key stakeholders we serve and our employees.”
Terms of the transaction were not disclosed. The acquisition is expected to close in July 2023.
About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. ryanspecialty.com