Simply Healthcare Plans of Florida

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Simply Healthcare Plans of Florida - overview

Location

Holly Hill, FL, US

Primary Industry

Healthcare

About

Simply Healthcare Plans is dedicated to providing comprehensive health insurance solutions to individuals, families, and businesses across Florida, ensuring access to a network of healthcare providers and quality services. Simply Healthcare Plans, operating under the brand Florida Health Care Plans (FHCP), specializes in health insurance coverage for Florida residents. The company is headquartered in Holly Hill, US. In December 2014, it was announced that Anthem Inc.


would acquire Simply Healthcare Holdings, a deal completed in February 2015. The company has received a total of USD 50. 00 mn in funding, with the latest round being a GROWTH round led by MBF Healthcare Partners. The company has engaged in 2 deals to date, with its most recent deal occurring on December 22, 2014.


Florida Health Care Plans (FHCP) specializes in providing comprehensive health insurance solutions designed for individuals, families, and employers within the state of Florida. Their core offerings include a variety of health insurance plans tailored to meet the diverse needs of their clients. These plans encompass standard medical coverage and specialized options, allowing users access to a wide network of over 9,500 in-network healthcare providers, including doctors, pharmacies, and urgent care facilities. FHCP emphasizes a commitment to quality healthcare and customer service, ensuring that their clients receive support from experienced medical professionals.


Their services primarily target Florida residents but accommodate a range of demographics, including those seeking Medicare plans and employers looking for group coverage options. Florida Health Care Plans generates revenue through a subscription-based model wherein clients pay premiums for health insurance coverage. This model allows for a steady stream of income critical for managing healthcare costs associated with providing medical services. Transactions primarily occur directly between FHCP and end users, including individuals and families as well as businesses offering health insurance to their employees.


The pricing structure for these health plans is designed to be straightforward and competitive, catering to various customer segments, including self-employed individuals and families seeking affordable healthcare solutions. Revenue is further supported by strategic partnerships with medical providers and facilities within their extensive network, enhancing overall service delivery and customer satisfaction. Simply Healthcare Plans plans to leverage recent funding to expand its product offerings and enhance services for its clients. The company is focusing on developing new health insurance products aimed at specific demographic segments to be launched by late 2024.


Additionally, there are plans to expand their services into neighboring states, targeting markets such as Georgia and Alabama by 2025. The GROWTH funding received in 2014 will support these initiatives, aiming to improve access and quantity of healthcare options available to their clients.


Primary Industry

Healthcare

Sub Industries

Hospitals

Website

www.fhcp.com

Company Stage

Acquired

Total Amount Raised

Subscriber access only

Simply Healthcare Plans of Florida - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Trade SaleCompletedSimply Healthcare Plans of Florida-
Add-onCompletedTotal Health Choice Medicaid and Florida Healthy Kids Business Assets-
GrowthCompletedSimply Healthcare Plans of Florida-

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