Founded in 2010, Ametros had built a specialized platform to hold and administer medical settlement funds on behalf of injured workers while also managing their related healthcare needs. At the time, only ~10% of these types of settlements used professional custodians, and Ametros was positioned to define the market as it grew.
Over our seven-year partnership (2017–2024), Ametros evolved from a promising early-stage company into the industry leader in post-settlement medical administration, growing revenue over 10x and achieving profitability. Our partnership culminated in Ametros’ sale to Webster Bank in January 2024.
Ametros Case Study
Ametros: Building a Leader Across Healthcare Administration, Custody, and Insurance
Leadership
Marques Torbert, Porter Leslie
Year founded
2010
Sector
Healthcare Administration, Custody
Website
When Long Ridge invested in Ametros in 2017, we saw untapped potential in a young company with $5 million in revenue.
Ametros: Building a Leader Across Healthcare Administration, Custody, and Insurance
The Team
Marques Torbert
After former PE investor Marques Torbert joined Ametros in 2013, he quickly recognized the business opportunity, stepped into the CEO role, and assembled a talented team.
Porter Leslie
Porter Leslie joined Marques at Ametros as President. Together, they built Ametros into a trusted partner for thousands of members navigating complex post-settlement healthcare needs.
Key Results
2017–2024 Partnership
10x+
Revenue growth
Profitability
Achieved (and scaled EBITDA significantly)
~21,000
Members served
The Opportunity
In early 2017, a mutual contact at a larger private equity firm introduced us to Marques and the Ametros team. After several months of discussion around the team’s vision for the business and the industry, Marques and Porter selected us as their preferred partner due to our deep financial services experience and conviction that we could add strategic value at the board level.
We invested in November 2017, believing that:
- The workers’ compensation market was large and untapped with $5 billion in annual post-settlement medical spend
- Ametros was the clear category leader with a compelling value proposition, recurring revenue across multiple streams, and strong unit economics
- An aging U.S. labor force and increasing regulatory oversight of settlement funds would drive demand for Ametros’ services
- Rising interest rates would be a tailwind for a business with a large and growing base of custodied deposits
“Our partnership with Long Ridge has been invaluable. Their counsel and analysis have helped us not only to understand our business better, but also to prioritize and unlock new ideas. With their encouragement and focus on the right opportunities, we are achieving exponential growth.”
The case studies represent a subset of Long Ridge’s investments. A complete list of investments made by Long Ridge funds during the relevant periods is available here. Investments are speculative and involve significant risks. Investors risk the loss of their entire investment.