2.10.12

BENNING ASSOCIATES ANNOUNCES CLOSING OF THE AFFILIATION OF NEIGHBORHOOD HEALTH PLAN AND PARTNERS HEATHCARE


Serves as Exclusive Financial Advisor to Neighborhood Health Plan

Boston – October 1, 2012—Benning Associates LLC, a boutique investment bank, today announced the closing of the affiliation of Neighborhood Health Plan (NHP) and Partners HealthCare (Partners).  Benning Associates served as the exclusive financial advisor to NHP and assisted in structuring and negotiating the transaction on its behalf.  Through this affiliation, these organizations will have the ability to address the growing need for care coordination and management and the flexibility to develop innovative patient- and family-centered models of care.
“We are excited to have advised NHP on this transformational business affiliation, assisting with the evaluation of potential counterparties and executing an appropriate strategy for the company,” said Greg Benning, Managing Director of Benning Associates.  
“Today marks the beginning of an exciting new chapter for NHP,” said Jay Remington, Managing Director of Benning Associates. “Together with Partners, NHP will be better able to continue to deliver high quality care to underserved populations now and into the future”
The transaction closed on October 1, 2012.  Hemenway & Barnes LLP served as legal advisor to NHP.
For inquiries, contact Benning Associates at 617-261-3999
About Neighborhood Health Plan
Headquartered in Boston, MA, NHP is a not-for-profit corporation, fully licensed by the Massachusetts Division of Insurance as a health maintenance organization.  It has provided comprehensive health services since 1986.  An NCQA-accredited managed care organization, NHP serves MassHealth, Commonwealth Care, Commonwealth Choice, and fully insured commercial members across the Commonwealth.  By working closely with the MassHealth program and commercial purchasers, and by partnering with community health centers and other providers, NHP grew rapidly from a few thousand members in the late 1980s to approximately 250,000 members today throughout Massachusetts.  NHP serves members who have access to a provider network of more than 4,000 primary care practitioners, over 13,400 specialists, and 65 teaching, community, and specialty hospitals.  For more information, visit nhp.org.
About Partners HealthCare
 Partners HealthCare is an integrated health care system, founded by Brigham and Women’s Hospital and Massachusetts General Hospital, that offers patients a continuum of coordinated and high-quality care.  In addition to its two academic medical centers, the Partners system includes community and specialty hospitals, a managed care organization, a physician network, community health centers, home health and long-term care services, and other health care entities.  Partners HealthCare is committed to patient care, research, teaching, and service to the community.  Partners is one of the nation’s leading biomedical research organizations and is a principal teaching affiliate of Harvard Medical School. Partners HealthCare is a non-profit organization.

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