eHealth secures $125M revolving credit facility

Online health insurance marketplace eHealth has entered into a new $125 million asset-based revolving credit facility with Manulife | Comvest Credit Partners , refinancing its existing term loan and adding fresh capital to support growth initiatives.

The facility, arranged through eHealth’s subsidiary eHealthInsurance Services, carries a three-year maturity and pricing of SOFR + %6.50, improving on the terms of the company’s prior loan from Blue Torch Finance. The agreement also includes a flexible borrowing base that could expand available funding by up to $50 million at Manulife | Comvest’s option.

eHealth used a portion of the proceeds to repay roughly $70 million outstanding under the Blue Torch loan and related transaction costs. The remaining capital is expected to support strategic growth priorities, including investments in AI-driven capabilities, omni-channel technology, revenue diversification, and general corporate purposes.

“This agreement is a significant step in strengthening eHealth’s capital structure and positioning the Company for long-term success. The favorable terms, extended maturity, and flexible borrowing base provide us with the resources and agility to invest in AI-driven innovation, business diversification and other high-ROI opportunities. We are excited to partner with Manulife | Comvest, a firm with a proven track record of supporting middle-market companies, as we execute on our growth strategy.” – Derrick Duke, CEO of eHealth.