Dallas, Texas (PRWEB) January 22, 2013
HealthSmart Holdings, Inc. today announced that it continues to expand its national footprint with the acquisition of Mountain States Administrative Services, a division of Lovitt & Touché, Inc., one of the largest brokerage firms in the nation. While terms of the transaction were not disclosed, HealthSmart has acquired all of Mountain States operating assets relating to third-party administration (TPA) services, effective December 31, 2012.
Mountain States is based in Tucson, Arizona, and provides partially self-funded employer benefits administration through the development of customized plans designed to maximize cost savings while maintaining employee satisfaction. The company administers healthcare benefits to approximately 26,000 individuals across 46 states. As part of the transaction, 42 Mountain States employees will join HealthSmart.
Kathy Major, Executive Vice President of HealthSmart Benefit Solutions, will oversee the operations of Mountain States, along with HealthSmart's existing western region operations in Denver, supporting the Company’s delivery of value-driven healthcare solutions to a nationwide client base.
“We welcome the Mountain States 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, and we have completed four 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 have a footprint in the Arizona market and to continue to expand our capabilities in the western 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 the Mountain States team join HealthSmart.”
Steve Touché, President of Lovitt & Touché, Inc., said, “Mountain States was started almost 40 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 for our clients.”
HealthSmart is based in Irving, Texas and has several service locations across the country. HealthSmart is dedicated to delivering integrated, self-funded solutions via proprietary products and services, including benefit administration, provider networks and care management. HealthSmart’s mission is to improve health while reducing overall healthcare costs.