Health-E Commerce

Health-E Commerce ("HEC") is an e-commerce retailer of products and services eligible for purchase using Flexible Spending Account (“FSA”) and Health Savings Account (“HSA”) funds. Health-E Commerce acquires customers with these health benefit accounts through third party administrators, employers, and digital channels.

Past

Status

2019

Investment Date

2024
Exit Date

New York, NY

Location

$250M - $500M

Revenue at Exit

Products and Distribution

Sector

BPOC Value Creation

Proactive Sourcing

BPOC leveraged its pharmacy services and healthcare products and distribution experience to build a relationship with HEC’s Founder, Jeremy Miller, 18 months in advance of partnering with HEC.

Human Capital

Within 20 months of partnering with HEC, BPOC worked with Founder Jeremy Miller to facilitate his transition from CEO to Chairman and hired multiple key executives, including a CEO, CFO, Chief Marketing Officer, Chief Sales Officer, and VP of Operations. In addition, HEC invested heavily in key functional leaders to support the company’s growth.

Technology and Operations

HEC invested to enhance its e-commerce capabilities and digital marketing infrastructure to support the company’s growth. Major upgrades include a website redesign for SEO optimization, enhanced content management tools, streamlined user experience around checkout, and advanced merchandising and promotions management.

Growth

HEC and BPOC developed a strategic plan to expand the company’s presence in its core FSA and HSA markets, utilize HEC’s digital marketing and B2B2C expertise to expand into new markets such as telehealth services, and build its private label brand, Caring Mill.

Details on case studies have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments made by BPOC and do not purport to be a complete list of investments.  A complete list of BPOC investments is available upon request.

Details on selected active and former investments have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments previously made by BPOC that fit within the current investment strategy; select investments do not purport to be a complete list of investments. Representative Past investments only include portfolio companies commencing with Fund III, which represents the time of the current partners tenure and the same investment strategy currently being deployed. Fund I and Fund II investments are included in the full list of investments here: (https://bpoc.com/all-investments/).

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