Heathos Company Profile

Background

Overview

Heathos is a connected healthcare insurance ecosystem designed to simplify complexity, strengthen partnerships, and empower growth across the insurance value chain. The company unifies three specialized brands—FirstEnroll, AdminOne, and Sonic Marketing—to deliver seamless, tech-enabled solutions for carriers, agencies, and members. With a focus on innovation, compliance, and adaptability, Heathos helps partners streamline operations, improve decision-making, and scale with confidence.

Mission and Vision

Heathos is committed to advancing the industry through forward-thinking solutions, streamlined processes, and unwavering reliability. By fostering strong relationships and embracing continuous innovation, Heathos serves as the trusted partner driving the future of insurance distribution.

Industry Significance

Heathos addresses critical gaps in the current health insurance landscape by consolidating disparate systems and adapting to the industry’s evolving needs. The company's integrated approach empowers agencies and carriers to deliver seamless, efficient, and future-ready insurance services that prioritize trust, adaptability, and long-term success.

Key Strategic Focus

Core Objectives

• Simplify the complexities of insurance administration.

• Strengthen partnerships between agencies and carriers.

• Empower growth across the insurance value chain.

Areas of Specialization

• FirstEnroll: Specializes in enrollment and billing administration, acting as an intermediary between carriers, agents, and members.

• AdminOne: Focuses on claims processing, delivering efficient, accurate, and seamless solutions for carriers and members.

• Sonic Marketing: Operates as a National Marketing Organization, facilitating direct carrier contracts and optimizing distribution channels.

Key Technologies Utilized

• Data-driven platforms for seamless integration across services.

• Compliance-focused systems to ensure regulatory adherence.

• Adaptive technologies to meet evolving industry needs.

Primary Markets Targeted

• Independent insurance agencies seeking streamlined operations.

• Insurance carriers aiming to enhance distribution and compliance.

• Members requiring accessible and efficient insurance services.

Financials and Funding

Funding History

Heathos was established in 2018 as FirstEnroll, a health insurance billing and enrollment third-party administrator. In June 2023, Sheridan Capital Partners partnered with FirstEnroll, leading to the formation of Heathos in May 2025. This strategic alignment marked a significant milestone in the evolution of the brands, creating a connected, data-driven entity designed to empower agencies and carriers to thrive.

Total Funds Raised

Specific details regarding the total funds raised by Heathos are not publicly disclosed.

Recent Funding Rounds

The most recent funding round occurred in June 2023, when Sheridan Capital Partners partnered with FirstEnroll, leading to the formation of Heathos in May 2025.

Notable Investors

• Sheridan Capital Partners

Intended Utilization of Capital

The capital raised has been utilized to expand Heathos' capabilities, integrate specialized services under one unified platform, and enhance the company's technological infrastructure to better serve agencies, carriers, and members.

Pipeline Development

Key Pipeline Candidates

• Unified Life Insurance Platform: Launched in March 2026, this platform integrates life insurance into the same operational environment used for health and supplemental products, allowing agencies to manage life insurance alongside other products through a unified workflow.

Stages of Development

• Unified Life Insurance Platform: Launched in March 2026.

Target Conditions

• Life insurance distribution challenges faced by agencies.

Anticipated Milestones

• Expansion of life insurance offerings to include various carriers and coverage levels.

• Integration of commission reporting within the unified platform.

Technological Platform and Innovation

Proprietary Technologies

• Integrated platforms for enrollment, billing, claims processing, and marketing.

• Compliance-focused systems ensuring regulatory adherence.

• Adaptive technologies meeting evolving industry needs.

Significant Scientific Methods

• Data-driven insights for operational efficiency.

• Adaptive insurance solutions based on market trends.

AI-Driven Capabilities

• Utilization of AI to streamline processes and enhance decision-making.

Leadership Team

Todd Baxter: Chief Executive Officer

• Over 23 years of leadership experience in healthcare, HR services, and financial services.

• Held C-Suite positions across four private equity-backed enterprises.

• Holds a BBA in Finance and an MBA with a specialization in Technology Management.

Kathryn Dawson: Chief Administration Officer

• Over 25 years of experience in global HR and operations.

• Held C-Suite positions in two private equity-backed organizations.

• Holds a BBA in Strategic Management.

Connie Capone: Chief Financial Officer

• Over 30 years of experience in finance, investing, and operations.

• Former Partner at a venture capital firm, deploying over $