PCF Insurance Services Enters Wisconsin Market With Milz Health Group Acquisition

PCF Insurance Services Enters Wisconsin Market With Milz Health Group Acquisition

PCF Insurance Services (PCF), a top 20 U.S. insurance brokerage firm, has acquired Milwaukee-based Milz Health Group, marking its entrance in the Wisconsin market. Milz Health Group is a full-service health insurance agency providing coverage to Wisconsin Medicare-eligible individuals and coverage through the Affordable Care Act. PCF Insurance Services is a full-service consultant and insurance brokerage firm offering commercial, life and health, employee benefits and workers’ compensation solutions. It employs more than 2,000 people across the country. According to the LevinPro HC database, this marks the 40th Managed Care transaction year-to-date. This compares with 45 Managed Care... Read More »
Servca Group Acquires Managed Care Organization Medicas

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 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 »
Servca Group Acquires Managed Care Organization Medicas

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 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 »
Servca Group Acquires Managed Care Organization Medicas

Health Plans, Inc. Acquires Employers Health Network

Health Plans, Inc. (HPI) announced on July 11 that it acquired managed care organization Employers Health Network. Financial terms of the deal were not disclosed.  HPI is a national third-party administrator that partners with health plan brokers and employers to provide self-funding strategies and customized plans, giving employers greater cost transparency and control. The company is based in Westborough, Massachusetts and was founded in 1981. Employers Health Network (EHN) is an Irving, Texas-based company that provides comprehensive healthcare plans. EHN’s plans connect employees directly with healthcare providers and its transparent pricing allows customers to see,... Read More »