Cresso Health Acquires GPS Insurance to Expand Distribution and Agent Network
Cresso Health, a technology-enabled provider of sales and marketing solutions for leading health insurance carriers in the United States, has acquired Florida-based GPS Insurance, a distributor of health insurance and related products.
Cresso Health, which is backed by New York-based healthcare investor Cypress Ridge Capital, aims to expand its field presence through this acquisition, further establishing its position in insurance distribution.
GPS Insurance is anticipated to benefit from Cresso Health’s established network and relationships with major insurance carriers. It will also gain access to Cresso’s distribution infrastructure, which includes technology, marketing and lead-generation tools, and a compliance toolkit.
The combined platform of Cresso Health and GPS will operate with over 250 agents, distributing a range of insurance products from various carriers across the country.
Kevin Reich, Founder of GPS, commented, “Cresso shares GPS’s long-standing commitment to putting the customer first while helping them navigate the ever-evolving medical insurance landscape. We are thrilled to join the Cresso team and look forward to working together to achieve our shared goals.”
Frank Pistone, CEO of Cresso Health, stated, “We are pleased to join forces with Kevin and the GPS team. We believe this partnership will accelerate our company’s mission of being an omni-channel, multi-product platform, and allow us to better-serve the individual health plan market.”
Cresso Health operates as a member acquisition and enrollment platform focused on the individual health plan market, marketing and distributing health insurance products on behalf of carriers through its network of independent agents and agencies.
Cypress Ridge Capital, a New York-based investment firm, focuses exclusively on healthcare. The firm invests in building businesses that aim to improve quality and efficiency, augment patient experience, and drive innovation within the healthcare ecosystem.
