Wayne, PA – Genex Services recently announced its acquisition of Med-Eval, a provider of independent medical examination (IME) and diagnostic network services for the workers’ compensation and automotive claims market. Financial terms were not disclosed.
The Med-Eval management team and staff will remain in place and continue to operate under its brand. Mike Valasek, Med-Eval President and CEO, will join Genex as the Vice President of IME services and will assume operating responsibility for the national service.
“Med-Eval is a highly regarded IME company with a well-established tradition of excellent customer service and quality assurance,” said Archie Anderson, Senior Vice President, Specialty Services of Genex Services. “This acquisition is supported by a marketplace demand for national IME options with a strong focus on cost containment and quality care. Combining Med-Eval and Genex’s services places us in a position to meet that need.”
Based in Sterling, VA, Med-Eval was founded more than 20 years ago and has steadily become one of the largest providers of IME in the workers’ comp industry. Med-Eval manages a network which provides medical evaluations, peer reviews, and diagnostic studies for several national and leading insurance carriers, third-party administrators, employers and other organizations that need assistance with medical review services.
“This is an exciting opportunity for Med-Eval,” said Valasek. “Pairing our programs with a leading managed care service company in Genex allows us to significantly expand our services. Both companies are focused on offering quality customized services that strengthen the continuum of care for our customers.”
Bailey Southwell & Co. served as the exclusive strategic and financial advisor to Med-Eval on the transaction.
Genex is a WorkCompWire ad partner.
This is not a paid placement.