Northlane Capital Partners (“NCP”) announced today the sale of The Difference Card (“TDC” or the Company) to funds managed by Stone Point Capital LLC.

Founded in 2001, TDC is a provider of healthcare cost containment solutions that enable employers to reduce healthcare insurance costs without reducing employees’ benefit levels or increasing employees’ out-of-pocket expenses. By utilizing card technology, risk transfer solutions, and proprietary wellness strategies, the Company has delivered billions of dollars in savings to its clients, while at the same time providing the highest level of employee benefits. Additional information is available at www.differencecard.com.

Sean Eagle, Partner at NCP, said, “We’ve worked closely with Joe Donovan and the TDC team since our investment in 2021, and over that time, TDC has cemented itself as an innovative leader within the healthcare cost containment solutions space. As employer-sponsored healthcare costs continue to surge, we believe companies like TDC that offer a strong value proposition and help to reduce employer healthcare costs continue to be attractive investment opportunities. This exit is a great example of NCP executing on our investment strategy and partnering with strong management teams to drive a phenomenal outcome.”

“We’re grateful to NCP for their strategic guidance and commitment over the past several years,” said Joe Donovan, CEO of TDC. “Their partnership was instrumental in helping us build a world class leadership team, launch new products, and expand our broker relationships, all of which position us for ongoing success.”

Chase Edmonds, Principal at NCP, added, “We acquired TDC four years ago through proactive sourcing, and by leveraging our extensive executive network, were able to bring in Joe very shortly thereafter to lead the Company. Coupling his leadership with NCP’s expertise in the employer healthcare benefits and human resources outsourcing sectors allowed us to quickly execute on several value creation initiatives, which significantly accelerated TDC’s growth.”

Eugene Krichevsky, Partner at NCP, stated, “Despite the macro uncertainties and broader declines in overall M&A volume, we continue to be active investors, with three new platform investments and four portfolio company exits over the past 15 months, with another exit pending. Our sale of TDC shows how our strategy, which we’ve consistently deployed over the last two decades, can thrive across macro cycles. That unwavering focus on lower middle-market companies operating in niche subsectors within our targeted verticals is what differentiates NCP and makes us a great partner.”

ABOUT NORTHLANE CAPITAL PARTNERS

Based in Bethesda, MD, NCP is a middle market private equity firm focused on key segments within the healthcare and business services sectors, where its principals have invested $1.8 billion of equity capital. NCP’s strategy is to partner with industry leading companies and great management teams, aligning incentives to accelerate growth and build value. For more information, please visit www.northlanecapital.com.

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