The Benecon Group Announces Leadership Changes
LITITZ, PA, February 17, 2022 – The Benecon Group (“Benecon” or “the Company”), a leading provider of self-funded medical benefit programs, announced changes to the executive leadership team effective January 1, 2022. After more than 30 years of serving as Benecon’s top executive, Founder, Chairman and Chief Executive Officer, Samuel N. Lombardo will step down as Chairman/CEO and transition to Founder and Chairman Emeritus. Recognized as a healthcare and insurance visionary, Mr. Lombardo pioneered the concept of self-funded health purchasing and founded The Benecon Group in April of 1991. Through his proprietary aggregated funding model and suite of back-office services, Sam created a national insurance solution that started with four Pennsylvania municipalities. Through his more than three decades of leadership, Benecon is now the premier self-funding solution for thousands of public and private sector employers across the United States. During his tenure as Chairman and CEO, Sam was a four-time recipient of INC Magazine’s exclusive “500 Fastest-Growing Companies in America” award. This recognition honors leaders who demonstrate excellence in annual revenue and overall corporate growth. In 2007, Sam received an honorary Doctorate degree from Millersville University of Pennsylvania. In 2020, the Lombardo College of Business was established at Millersville University. Sam’s philanthropic legacy extends not only to Millersville University, but also to numerous interests including: The Samuel N. Lombardo Foundation; Franklin & Marshall College; The Lancaster Cleft Palate Clinic; The Clinic for Special Children in Strasburg, PA; Schreiber Center for Pediatric Development; The Mix at Arbor Place; The Veterans Honor Park of Lancaster County and the National Healthy Veterans Center at the 340-acre Valor Farm in Lynchburg, Virginia. “We thank Sam for guiding Benecon and applaud his dedication to addressing the self-insurance needs of small-and-medium-sized businesses,” said Michael Berk, a Managing Director at TA Associates and member of the Benecon Board of Directors. “Sam and the entire Benecon team have established a strong foundation for the Company’s continued growth. We look forward to continuing our partnership on this exciting new chapter for Benecon.” As of January 1, 2022, Matthew Kirk assumed the role of President and CEO. Mr. Kirk joined Benecon in 2008 and served as President of the Company since 2011. Together with Mr. Lombardo, he has driven significant progress at Benecon, delivering strong double-digit growth while currently managing $3 billion in premium equivalent. Mr. Kirk guided robust national expansion over the last 10 years with Benecon groups operating in 37 states through an exclusive broker network of more than 550 independent distributors. In 2020, Mr. Kirk also played a critical role in securing a growth investment from TA Associates, a leading global growth private equity firm.