MediaAlpha, a portfolio company of White Mountains Insurance Group, has acquired certain assets associated with health and life insurance business of Healthplans.com for an undisclosed sum.
The deal will expand MediaAlpha’s presence in the health insurance and life insurance verticals and also boost the company’s scale and profitability.
This is the second acquisition that MediaAlpha has wrapped up since White Mountains bought a majority stake in the company in 2014.
Commenting on the deal, White Mountains managing director Chris Delehanty said: “The deal supplements MediaAlpha’s strong organic growth and further establishes MediaAlpha as the leader in its marketplace. Steve, Eugene and team have been terrific partners, and we look forward to continuing to support their growth initiatives.”
MediaAlpha financed the deal with debt from existing lender, Bridge Bank, and equity funded by its existing unitholders. As a result of the deal, White Mountains’ stake in MediaAlpha rose to nearly 59%.