Sheridan Capital Partners Completes Investment in National Alternative Health Insurance Technology Company Tres Health

CHICAGO--(BUSINESS WIRE)--
Sheridan Capital Partners (“Sheridan”) today announced the completion of its investment in Tres Health, Inc. (“Tres” or the “Company”), a national alternative health insurance and technology company. Financial terms of the private transaction were not disclosed. The investment reflects Sheridan’s multi-year investment thesis on the employer‑sponsored benefits and alternative health plan market, which is seeing sustained annual growth in demand for program management, support services, and third-party administration solutions.

Founded in 2021 and headquartered in Boca Raton, Florida, Tres is an employer-facing insurance platform that provides tech-enabled health plan solutions for small and medium‑sized businesses (SMBs). Aiming to reinvent the way health insurance plans are designed, managed, and administered, the company offers ACA‑compliant Minimum Essential Coverage and Minimum Value Plan alternatives, level‑funded major‑medical plans, and a range of ancillary benefits. Through its integrated products and innovative technology, Tres enables SMB employers—many of whom have been historically underserved by the high cost of traditional medical insurance—to offer more accessible and cost‑effective health coverage to their employees.

“Sheridan shares our conviction that thoughtful plan design and technology can make quality health coverage accessible to the small and medium-sized employers who need it most,” said Michael Feeney, Chief Executive Officer of Tres. “Their deep healthcare expertise and operational resources will help us broaden our product suite, expand into new markets, and ultimately serve more employers navigating rising healthcare costs.”

“We believe Tres has built a differentiated platform that gives SMB employers real alternatives to traditional group health plans—exactly the market segment where we see the strongest demand,” said Chris McCrory at Sheridan Capital Partners. “We look forward to partnering with the team to scale the business, invest in TresTech, and bring Tres’ solutions to more employers and brokers nationwide.”

Tres leverages partnerships with major national carriers and provider networks, including Anthem and Cigna, to support its plan offerings and maintains control over plan design and administration through its platform. The company’s proprietary digital platform suite, TresTech, delivers a streamlined user experience and provides easy access to information for members, employers, brokers, and providers. Tres services over 1,000 employer customers, with plans and solutions available in all 50 states.

The transaction was led by Jonathan Lewis, Chris McCrory, Conor Kolstad, and Doug Francken at Sheridan Capital Partners. McDermott Will & Schulte served as legal counsel and TripleTree served as financial advisor to Sheridan Capital Partners. G2 Capital Advisors served as exclusive sell-side advisor and Portfolio M&A Law served as legal counsel to Tres Health.

About Sheridan Capital Partners

Sheridan Capital Partners is a private equity firm focused exclusively on partnering with businesses across the healthcare landscape, including outsourced services, products and manufacturing, providers, and software and technology. Sheridan’s engaged operational approach brings strategic resources and deep industry expertise with the purpose of accelerating growth, building enduring value, and generating strong results. For more information, visit www.sheridancp.com/

About Tres Health

Tres Health is a national alternative health insurance and technology company, founded on the principles of reinventing the way healthcare is designed, managed, and administered. Tres offers small and medium-sized employers access to affordable options for Minimum Essential Coverage, Minimum Value Plans, and gap insurance. Its proprietary digital platform suite, TresTech, delivers simple user experiences and quick access to information for various customers including members, employers, brokers, and providers. Learn more at www.tres.health.

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Source: Sheridan Capital Partners