Servca Group Acquires Managed Care Organization Medicas
Servca Group acquired managed care company Medicas in a deal featuring two London-based companies. The financial terms of the transaction were not disclosed. Medicas works with clients in handling complaints, defending and paying claims and crisis management, including guaranteeing insurance renewal following a claim/complaint to ensure continuity. An independent Lloyd’s of London broker, Servca is an international insurance intermediary specializing in non-standard medical, financial and professional lines of insurance. It was founded in 2011. According to the LevinPro HC database, this was the 39th Managed Care transaction of 2022. That compares with 43 Managed Care deals recorded... Read More »
Healthcare Leaders Address Acquisition Strategies During Third-Quarter Earnings Calls as Strong Results Reported
Healthcare firms reported solid quarterly earnings during the week of October 31 with several executives mentioning the outlook for acquisitions. CVS Health Corporation on November 2 reported third-quarter results that featured double-digit percentage increases for total revenue in the quarter and the year. Revenue increased to $81.2 billion in the quarter, up 10% compared to the prior year. Revenue in the year-to-date period jumped to $238.6 billion, up 10.7% compared to the previous year. The Woonsocket, Rhode Island-based company raised its 2022 full-year cash flow from operations guidance range to $13.5 billion to $14.5 billion from $12.5 billion to $13.5 billion. On September 2, the... Read More »
Ping An Healthcare and Technology Company Acquires Ping An Smart Healthcare for $96 Million
Ping An Healthcare and Technology Company Limited acquired Ping An Smart Healthcare for $96.864 million. The companies are based in Shanghai. Ping An Healthcare and Technology Company Limited is a part of Ping An’s managed care services system and also the flagship platform of Ping An’s healthcare ecosystem. It has established a business model based on managed care, family doctor membership and O2O (offline-to-online) healthcare services. Scientia Smart Health Technologies Limited and Ping An Yingxiang (Jiaxing) Software Company Limited, collectively referred to as Ping An Smart Healthcare, are business segments of Ping An Smart City. The two segments have empowered more than... Read More »
Marpai Health Purchases Chicago-Based Managed Care Organization
Marpai Health, Inc. announced its acquisition of Maestro Health, a Chicago-based health & benefits company on August 4. This marks Marpai’s second acquisition since the start of 2021 and the first of 2022. The purchase price was $22.1 million. Founded in 2013, Maestro Health offers a platform that serves employers, employees, brokers and carriers. It serves more than 25,000 people and has more than 80 customers in more than 40 states with a 93% client retention rate. The company previously received growth capital financing from lead investor Oak HC/FT and SV Health Investors. Marpai Health uses artificial intelligence, and its platform Marpai Labs, to help reduce healthcare costs for... Read More »