Navigation Links
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 employer groups of all sizes.”

Jim Pennington, President of HealthSmart, said, “This acquisition fuels our growth strategy, especially in our Eastern Region. In addition, it will allow us to diversify our product and service offerings. Both HealthSmart and Wells Fargo Disability Management have customer-centric cultures and strive for excellence on a daily basis. We welcome the employees and the clients of WFDM to HealthSmart.”

On December 31, 2011 HealthSmart completed its acquisition of Wells Fargo Third Party Administrators, Inc., the medical third-party administration (TPA) business of Wells Fargo Insurance.

About HealthSmart
For more than 40 years, HealthSmart has offered a wide array of customizable and scalable healthcare administrative solutions. It specializes in self-funded insurance solutions and comprehensive wellness programs for employers through its broker distribution network. 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 Well Fargo
Wells Fargo Insurance is the fifth largest insurance broker in the world (Business Insurance, 2012). With 127 offices in 37 states, Wells Fargo Insurance provides solutions for a wide range of customers, including retail consumers, high net worth individuals, small businesses, as well as middle market and large corporate customers. The 7,000 insurance professionals of Wells Fargo Insurance write or place $15 billion of risk premiums annually in property, casualty, benefits, international, personal lines, and life products and also includes the nation’s largest crop insurance provider, Rural Community Insurance Services (RCIS).

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Read the full story at http://www.prweb.com/releases/2013/6/prweb10796150.htm.


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

Related medicine news :

1. New Talent Joins the HealthSmart Account Management Team
2. HealthSmart Appoints Vincent W. Sowards as Assistant Vice President of Network Development
3. HealthSmart Acquires Mountain States Administrative Services
4. University of Maine Football Completes Ground-Breaking Team Leadership and Emotional Intelligence Training Program
5. Dr. Silberg Completes LANAP Laser Evolution 5 Training
6. Halcyon Completes First Acquisition in South Georgia
7. IRSC Student Completes 75-Hours of Work for Degree at Martin County PPEC
8. Mayo Clinic completes first genome-wide analysis of peripheral T-cell lymphomas
9. EliNext Completes Development of a Series of Virtual Reality Interactive 5D Simulation Games on Unity 3D
10. Ultimate Aquatics, announces the acquisition of SUP Products, the industry leader in U.S. Made Private Label Hybrid Molded Composite (HMC) Stand Up Paddle Boards (SUP) & Accessories.
11. Cloud Medical Doctor Software Corporation Finalizes Acquisition of Doctors Network of America and Expands its Medical Billing Services West
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/10/2016)... Aliso Viejo, California (PRWEB) , ... December 10, 2016 , ... ... editors to create dozens of unique animations," said Christina Austin - CEO of Pixel ... created exclusively for use within FCPX . This set of versatile transitions ...
(Date:12/10/2016)... ... December 10, 2016 , ... When faced with having ... germs spreading from the seat to her body, and contamination of children when they ... way to solve this problem that many people face. , The patent-pending SANI-POCKET enables ...
(Date:12/9/2016)... ... December 09, 2016 , ... Cellairis is a worldwide mobile device and ... iPhone , iPad and Samsung Galaxy devices with premium parts and accessories. ... to maximize convenience and accessibility for customers. While customers do their shopping, Cellairis can ...
(Date:12/9/2016)... ... December 09, 2016 , ... The Justin Veatch Fund ... (NCADD) is recommending the film Whispering Spirits and its discussion guide ... Columbia as an education tool in the war against teen drug abuse. NCADD ...
(Date:12/9/2016)... NY (PRWEB) , ... December 09, 2016 , ... Mediaplanet ... awareness for organ transplantation while encouraging readers to sign up as an organ donor ... lifesaving organ transplant. , An organ donor can save up to 8 saves ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... Dec. 9, 2016   Hudes Laser Aesthetica ... featuring the multi-wavelength Astanza Trinity laser and Astanza ... in laser tattoo removal, IPL hair removal, pigmented ... therapy. Hudes Laser Aesthetica is setting high standards ... and promises to deliver effective, long-lasting results. ...
(Date:12/9/2016)... , Dec 9, 2016 Research ... Transceiver Market 2016-2020" report to their offering. ... The report forecasts the global ... the period 2016-2020. The report covers the present ... for 2016-2020. To calculate the market size, the report considers the ...
(Date:12/9/2016)... 2016  Harmar Mobility, LLC announced today that Steven E. Dawson has ... Board of Directors. Photo - http://photos.prnewswire.com/prnh/20161209/447552 ... Harmar ... Mr. Dawson,s executive career includes leadership roles ... variety of industries. He brings to the company deep operational and leadership ...
Breaking Medicine Technology: