HealthSmart Acquires Employee Benefits Administrators, Inc and The Partners Workplace Solutions Group, Inc.
Transaction Continues Value-Driven Healthcare Strategy for Nationwide Client Base
Dallas, Texas (PRWEB) March 01, 2013
HealthSmart Holdings, Inc. today announced that it continues to expand its national footprint with the acquisition of Employee Benefits Administrators, Inc. (EBA), a third party administrator and The Partners Workplace Solutions Group, Inc. (PWSG) based in Elizabethtown, Kentucky, just south of Louisville. While terms of the transaction were not disclosed, HealthSmart has acquired all EBA and PWSG operating assets relating to third-party administration (TPA) and agency brokerage services effective today.
EBA specializes in offering consumer directed solutions to self-funded employers and their employees. EBA provides employer benefits administration through the development of customized plans designed to maximize cost savings while maintaining employee satisfaction. The company administers medical, dental and vision solutions to approximately 11,382 individuals across 25 states. As part of the transaction, 12 employees of EBA will join HealthSmart.
“We welcome the EBA clients and employees to the growing HealthSmart family,” said Daniel D. Crowley, Chairman of HealthSmart. “We are a natural fit for TPAs seeking a strong partner with extensive networks, pharmacy benefit management and managed care services. We completed five such acquisitions in the past year. 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 builds on our national growth strategy, and we are excited to expand our footprint in the Kentucky market and to continue to expand our capabilities in the southeastern part of the U.S. The business culture of the two organizations makes this a positive transaction for employees and clients. We are pleased to have Tim Davis and the EBA team join HealthSmart.”
Timothy R. Davis, Chairman of EBA, Inc., said, “EBA was started 27 years ago to provide customized services to our clients. Our customer service and entrepreneurial spirit have allowed us to deliver creative solutions that meet the individual needs of our clients. That spirit will continue with HealthSmart, leveraging their managed care resources and strong service and technology platforms.”
HealthSmart provides a wide array of customizable and scalable administrative offerings, complemented by a comprehensive wellness program. It specializes in self-funded insurance solutions for employers through its broker distribution network. HealthSmart Holdings, Inc. is a healthcare solutions company that manages more than $6 billion in claims annually. The company's headquarters is in Irving, Texas, with service locations around the country. The HealthSmart companies are dedicated to delivering integrated, self-funded solutions via innovative products and services, including benefit administration, provider networks and care management. HealthSmart’s mission is to improve member health and reduce healthcare costs.
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