Wayne, PA – Genex Services recently announced its acquisition of PRIUM, an Atlanta-based provider of Comprehensive Chronic Pain Intervention programs and Utilization Review services, from Ameritox. Financial terms were not disclosed.
Since its founding in 1987, PRIUM has provided Chronic Pain Intervention programs through its Utilization Review, Medication Oversight, and TaperRx services to employers, insurers, and third-party administrators.
“The PRIUM acquisition is an exciting addition to our company that will provide continuity of services to the current PRIUM customer base,” said Peter Madeja, Genex President and Chief Executive Officer. “It also enhances the broad service continuum at Genex for controlling claim costs and driving superior outcomes for payers as well as injured and disabled workers.”
Michael Gavin, who leads PRIUM, will continue with the company as will the experienced and talented clinical staff that form the foundation of the company’s services.
“We could not have found a stronger fit for our customers and employees than this new relationship with Genex,” said Gavin. “We are excited about the potential opportunities ahead.”
“PRIUM is well known in the market for the expertise and experience they bring in addressing chronic pain and opioid-related issues,” added Delphia Frisch, Genex COO and Executive Vice President. “Bringing together the leading provider of narcotic interventions with Genex’s broad and deep clinical expertise will enable Genex to deliver the most powerful opioid and chronic pain management solution in the industry.”
SunTrust Robinson Humphrey served as the exclusive strategic and financial advisor to Ameritox and PRIUM on the transaction.
Source: Genex Services
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This is not a paid placement.