Wayne, PA – Genex Services recently announced that funds managed by private equity firm Stone Point Capital LLC (“Stone Point”) have acquired a majority interest in Genex from funds advised by Apax Partners, a global private equity firm. Financial terms of the transaction were not disclosed.
Founded in 1978, Genex helped introduce the medical management concept and has become one of the largest and most experienced medical cost containment and disability management providers. Today, Genex serves more than 380 of the Fortune 500 customers, addressing the unique needs of each company and each employee, one relationship at a time.
“This acquisition renews an exciting partnership that will support the continued enhancement and expansion of our industry leading services,” said Peter Madeja, Genex’s President and Chief Executive Officer. “Our customers and partners will benefit from the strategic investment in services and solutions designed to address the complex challenges they face on a regular basis.”
“We are excited to be partnering with Peter and the Genex team again to support the next phase of its growth,” said Chuck Davis, CEO of Stone Point.
SunTrust Robinson Humphrey served as the exclusive strategic and financial advisor to Genex.
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