The Ontario Municipal Employees Retirement System is set to become the lead investor in Tennessee-based Premise Health Holding Corp.

The company, which provides on-site, community and virtual health-care services for employers, aims to help mitigate the rising costs of health care to organizations. “Over the last four years, we have significantly expanded and evolved our model to deliver unrivaled access to high-quality care, offering a seamless member experience and exceptional value,” said Stu Clark, chief executive officer of Premise Health, in a press release.

“Now, we are poised to continue that progress with support and capital from a global partner known for its long-term investment approach, which aligns perfectly with our vision and commitment to our clients, members and their families.”

Read: Boosted by public equities, OMERS posts 11.5% return for 2017

Tim Patterson, managing director of OMERS’ private equity arm, noted that the pension fund is looking forward to working with Premise Health. “Our approach to investment is a patient one, with a focus on growing businesses by providing long-term capital and supporting management,” he said in the release.

In other investment news, the Healthcare of Ontario Pension Plan is taking a minority stake in Chobani, a U.S.-based yogurt maker, by buying out global alternative investment firm TPG Capital.

“Chobani is truly one of those unique companies and investment opportunities that seems to defy all odds: coming out of nowhere, lifting up its communities and driving exceptional long-term value and performance,” said Jim Walker, managing partner at HOOPP Capital Partners.

Read: Caisse, Agropur establish joint investment platform for dairy industry

“We think its best days are yet to come, both in the U.S. and beyond, and we’re thrilled to join them in their next phase of growth,” he said of the company.

Besides the OMERS and HOOPP investments, the Caisse de dépôt et placement du Québec is taking a minority stake in commercial insurance broker BFL Canada.

“By acquiring a stake in BFL Canada, we hope to actively participate in the growth of a company that, through its innovative business model, has always stood out in its sector,” said Christian Dubé, executive vice-president for Quebec at the Caisse, in a news release.

Read: Caisse takes stake in French industrial company

Dubé noted the company has grown significantly since its creation 30 years ago. “This growth accelerated over the last 10 years, with the company now ranking among the leaders in its industry. This is an opportunity for us to do more than provide financing — we can also help the company with its succession plan.”

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required