Remodel Health: Expansive Growth Financing Secures Over $100 Million

Remodel Health, a provider of individual health insurance plans, has secured a capital infusion of over $100 million through investments from Oak HC/FT and Hercules Capital. With this capital increase, the company plans to decisively advance its national expansion. Remodel Health's technological platform for ICHRA plans (Individual Coverage Health Reimbursement Arrangement) supports employers and employees with innovative services, including plan creation and management as well as automated offer calculations. Since shifting from group-based to individual health insurance in 2015, Remodel has been successfully operating in the ICHRA market. In 2024, the company expanded its product portfolio through the acquisition of PeopleKeep to offer customized solutions to small, medium-sized, and large enterprises. With a focus on predictable annual performance costs and average savings of 30% for companies, Remodel achieves high efficiency and customer satisfaction. In collaboration with insurance representatives and agencies, Remodel Health intensified the dissemination of its ICHRA plans nationwide last year, leading to an elevenfold increase in bookings through intermediaries compared to the previous year. The ICHRA plans introduced in 2020 offer employers flexible contribution options and employees personalized benefit offerings as an alternative to traditional group health insurance. Austin Lehman, CEO of Remodel Health, is confident: "We now see our vision coming to fruition. The Oak team has supported us with great vision and possesses excellent connections in the insurance market that accelerate our growth and give us access to medical care facilities with important missions." Andrew Adams, co-founder and managing partner of Oak HC/FT, adds: "We are proud that the Remodel Health team chose us as partners and look forward to supporting them in expanding the ICHRA market in the USA.