Japan-based Nippon Life Insurance Company has taken a minority stake in Best Doctors, a US-based healthcare services provider.
Nippon Life, Japan’s largest private life assurer, now joins Munich Re, the world’s largest reinsurer, as a minority owner of Best Doctors. Nippon Life partnered with the portfolio company two years ago while and Munich Re formed a joint venture with Best Doctors through its US subsidiary in 2004.
Investment bank Harris Williams advised Best Doctors, which was started in 1989 and covers nearly 25 million people around the world with about $100m in turnover.
In April 2006, Aetna Ventures, the corporate venturing unit of New York-listed healthcare provider Aetna, and venture capital firm Schooner Capital made a joint investment in Best Doctors.