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HealthSmart Completes Acquisition of Wells Fargo Disability Management Unit
Date:6/3/2013

Dallas, TX (PRWEB) June 03, 2013

HealthSmart Holdings Inc., announced that it has completed the acquisition of the Wells Fargo Disability Management (WFDM) unit of Wells Fargo Insurance Services, part of Wells Fargo & Company (NYSE: WFC). Terms of the transaction, which closed on June 1, 2013, were not disclosed. The new business unit will be renamed HealthSmart Casualty Claims Solutions.

HealthSmart will acquire the operating assets and related liabilities of Wells Fargo Disability Management. As part of the transaction, HealthSmart will add approximately 160 Wells Fargo Disability Management employees and maintain offices in the existing six locations, four of which are new markets for HealthSmart – Florida, Virginia, Pennsylvania and Ohio. Following the acquisition, HealthSmart will have annual revenues of more than $190 million and more than 1,400 employees.

Anne Doss, executive vice president and head of the Personal and Small Business Insurance division at Wells Fargo, said Wells Fargo Insurance will continue to bring both medical and disability management third-party administration (TPA) solutions, as well as General Liability and Auto Liability services to its customers nationwide using HealthSmart’s broad networks and capabilities. “Along with HealthSmart’s 40 year track record of providing excellent customer service, WFDM will provide our customers with quality service and greater access to the medical and disability solutions they need.”

“During the past year, HealthSmart has acquired seven other benefits administrators,” said Daniel D. Crowley, Chairman of HealthSmart. “We are very focused on creating economies of scale that allow us to provide new and existing 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 employ
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