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HealthSmart Completes Acquisition of Klais & Company, Inc.
Date:6/7/2013

Dallas, TX (PRWEB) June 07, 2013

HealthSmart announced today that it has completed the acquisition of Klais & Company Inc., an Akron, Ohio based benefits administrator specializing in healthcare solutions for the employer and student health populations. Terms of the transaction, which was completed on June 6, 2013, were not disclosed. HealthSmart has acquired all of the operating assets and related liabilities of Klais & Company, Inc. and has added approximately 70 Klais & Company employees. It will continue to maintain offices in the Akron, Ohio area. HealthSmart now has annual revenues of approximately $190 million and close to 1,400 employees.

Nancy Archibald, President of Klais & Company, said, “Klais & Company will continue to bring administrative and student health solutions to customers, using HealthSmart’s broad networks and operational capabilities. We are excited about leveraging the Klais team’s strengths and talents with HealthSmart’s 40+ year track record of excellence.”

“During the past two years, HealthSmart has acquired seven other third party administrators,” said Daniel D. Crowley, Chairman of HealthSmart. “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. 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, student health plans and more.”

Jim Pennington, President of HealthSmart, said, “This acquisition fuels our growth strategy, especially in our Eastern Region. In addition, it will further diversify our product and service offerings to now include student health solutions. Both HealthSmart and Klais have customer-centric cultures and strive for excellence on a daily basis. We welcome the employees, clients, and students of Klais & Company to Heal
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