Navigation Links
HealthSmart Announces Agreement to Acquire Mutual Assurance Administrators, Inc.
Date:10/1/2013

Dallas, Texas (PRWEB) October 01, 2013

HealthSmart Holdings, Inc. announced today that it has entered into a definitive agreement to acquire Mutual Assurance Administrators, Inc. and its affiliates, Pittman & Associates, Inc., BMI-HealthPlans, Inc. and Mutual Assurance Administrators, Inc. of Texas (collectively, MAA). MAA is a full-service, broker-driven, regional third party administrator (TPA) headquartered in Oklahoma City, Oklahoma. Terms of the transaction were not disclosed.

MAA offers claims administration services for self-funded benefit plans. HealthSmart will acquire all operating assets and related liabilities of MAA. Following the completion of the transaction, HealthSmart will have gross annual revenues of nearly $200 million, employ more than 1,400 workers and manage more than $6 billion in claims. Additionally, HealthSmart will expand its presence to include office locations in Oklahoma City, OK; Bartlesville, OK; Springfield, MO; Little Rock, AR; Memphis, TN; Houston, TX; and Jackson, MS.

Todd Archer, President of Mutual Assurance Administrators, said, “MAA’s flexible approach to benefits management allows its clients to establish the best possible programs to meet their specific needs. We are excited about leveraging the MAA team’s strengths and talents with HealthSmart’s 40+ year track record of excellence.”

“We are very focused on creating economies of scale that allow us to provide our clients with high quality solutions at the best possible value,” noted Daniel D. Crowley, Chairman of HealthSmart. “Our size, geographic coverage and high quality, integrated managed care offerings make it possible for HealthSmart to meet the health benefit needs of self-funded employer groups.”

Jim Pennington, President of HealthSmart, added, “We are very excited about the opportunities this acquisition brings to HealthSmart. As we continue to broaden our national reach, HealthSmart remains dedicated to creating value for our customers. This acquisition fuels our national growth strategy and brings additional service capabilities to more clients. Both HealthSmart and MAA have customer-centric cultures and strive for excellence on a daily basis. We look forward to blending the strengths of both these organizations to provide synergies and give an edge over our competition.”

Stephens Inc. acted as financial advisor to MAA in this transaction.

About HealthSmart
For more than 40 years, HealthSmart has offered a wide array of customizable and scalable health plan solutions for self-funded employers. HealthSmart’s comprehensive service suite addresses individual health from all angles. This includes claims and benefits administration, provider networks, pharmacy services, business intelligence, onsite employer clinics, care management, a variety of health and wellness initiatives and web-based reporting. The Company's headquarters is in Irving, Texas, with regional hubs throughout the country. HealthSmart’s mission is to improve member health and reduce healthcare costs.

About Mutual Assurance Administrators
Founded in 1975, MAA is headquartered in Oklahoma City, Oklahoma. The Company currently serves approximately 123,000 total covered lives administered under medical plans targeting clients in the 150 to 1,500 employer range size. Mutual Assurance Administrators has developed a high touch customer service model, implemented exceptional cost controls and become a valued resource for its broker’s and client’s management staff. In addition, the Company accesses multiple third-party networks on behalf of its clients.

Read the full story at http://www.prweb.com/releases/2013/10/prweb11186568.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Marty Sholder Joins HealthSmart as Executive Vice President of Network Solutions
2. John Fischer Promoted to Executive Vice President of HealthSmart’s Western Region
3. HealthSmart Completes Acquisition of Klais & Company, Inc.
4. HealthSmart Appoints Loren W. Claypool as Executive Vice President of Eastern Region
5. HealthSmart Completes Acquisition of Wells Fargo Disability Management Unit
6. New Talent Joins the HealthSmart Account Management Team
7. HealthSmart Appoints Vincent W. Sowards as Assistant Vice President of Network Development
8. HealthSmart Acquires Mountain States Administrative Services
9. SASMAR Announces FDA Approval for Its Personal Lubricants in the United States
10. Health Heroes Announces New Episode Airing October 27, 2013 on Fox Business
11. One of the Largest DNA Testing Companies in the World, Announces $5,000 College Merit Scholarship
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... ... As health professionals work to improve their approach to healthcare, there is ... than filling out a survey; in many cases health professionals and patients are working ... and research on the importance of active engagement with patients and members of the ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, ... guideline updates for the primary prevention of cardiovascular diseases during the 15th ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network for ... for action towards gender equality at their inaugural Summit in New York City in ... reached a social audience of over 3 million. To watch the Mobilize Women video, ...
(Date:10/13/2017)... , ... October 13, 2017 , ... “The Journey: From ... every danger possible to save lost souls in the Philippines. “The Journey: From the ... is a dedicated teacher of the Bible. She has taught all ages and currently ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... meet the demand of today’s consumer and regulatory authorities worldwide. From Children’s to ... and tested to meet the highest standard. , These products are also: ...
Breaking Medicine News(10 mins):
(Date:9/27/2017)... Sept. 27, 2017  Commended for their devotion to personalized ... Ranked as number one in the South Florida Business Journal,s ... Inc. 5000 yearly list, the national specialty pharmacy has found ... Bardisa will soon be honored by SFBJ as the ... Set to receive his award in October, Bardisa ...
(Date:9/25/2017)... 2017   Montrium , an industry leader ... the IQPC Trial Master Files & Inspection Readiness ... EastHORN Clinical Services has selected eTMF Connect ... management. EastHORN, a leading European contract research organization ... transparency to enable greater collaboration with sponsors, improve ...
(Date:9/23/2017)... 2017 Janssen Biotech, Inc. (Janssen) announced today ... the U.S. Food and Drug Administration (FDA) for the ... the treatment of moderately to severely active rheumatoid arthritis ... are needed to further evaluate the safety of sirukumab ... "We are ...
Breaking Medicine Technology: