Aquiline Capital Partners Launches MDpanel, a New Platform Committed to the Efficient Delivery of Medical Opinions in the Insurance Claims Process, and Appoints Jason Erdell as CEO

LOS ANGELES, Oct. 10, 2023 /PRNewswire/ -- Aquiline Capital Partners LLC ("Aquiline"), a private investment firm based in New York and London, today announced the formation of MDpanel, a new platform dedicated to the efficient delivery of medical opinions as part of the workers' compensation insurance claims process.

Jason Erdell has been appointed CEO of MDpanel. Erdell has a long track record of building companies that serve physicians and healthcare providers including the Broadlane Group, MedAssets (now FinThrive and Vizient), Change Healthcare (now Optum), and Press Ganey. Most recently, he served as CEO of Aspirion, a specialty revenue cycle management service provider and Aquiline portfolio company, where he oversaw the company's 30% year-over-year organic revenue growth and five tuck-in acquisitions over four years.

Following the launch of MDpanel, California Medical Legal Specialists, LLC ("CMLS") and California Medical Evaluators Holdings, LLC ("CME"), two leading providers of support services for physicians performing qualified medical evaluations (QMEs) for workers' compensation claims, have also joined the platform. With the additions of CMLS and CME, MDpanel serves 250+ evaluation sites and has supported over a million evaluations across a variety of specialties including orthopedics, psychiatry, pain management, chiropractic and internal medicine.

"Our vision is for MDpanel to be the partner of choice for physicians, carriers, attorneys and injured workers by connecting those in need of medical opinions with highly qualified and well-regarded medical professionals in the U.S.," said Benedict Baerst, Partner at Aquiline. "Bringing together two complementary businesses in CMLS and CME will enable MDpanel to partner with more physicians across a wider range of specialties to address the full spectrum of workers' compensation claims. We look forward to working with Jason and his team as MDpanel embarks on a new chapter of growth."

"I'm looking forward to building MDpanel into the platform through which world-class medical opinions reach those in need," said Jason Erdell, CEO of MDpanel. "Both CME and CMLS offer unparalleled support for physicians and best-in-class solutions that streamline the complex QME process for all stakeholders. Under one brand, MDpanel's value proposition will be even stronger. Through other investments and with Aquiline's support, we will expand our physician network, geographic reach, and service offerings and supplement our platform with robust technology in this traditionally services-based industry."

Houlihan Lokey served as financial advisor and Ropes & Gray LLP served as legal advisor for Aquiline. Audax Private Debt provided debt financing for the transactions.

Bailey & Company served as financial advisor to CMLS and CME.