San Diego, CA – Mitchell | Genex, a leader in technology solutions, medical cost containment, and disability management has announced its acquisition of CompAlliance, an established provider of managed care services, including its Preferred Provider Organization (PPO), Medical Bill Review, Case Management, Utilization Review, and 24-hour Nurse Triage. Financial Terms were not disclosed.
With this acquisition, Mitchell | Genex furthers its position as a market leader in providing the broadest continuum of best-in-class technology, services, clinical and pharmacy solutions to the Workers’ Compensation, Auto Casualty, Auto Physical Damage, Disability, and Group Health markets. The transaction expands the range of services the company offers its markets while continuing to enhance its core capabilities.
“Adding CompAlliance to Mitchell | Genex was a natural fit for both companies,” said Alex Sun, Mitchell President & CEO. “Both of our companies are committed to driving better claim outcomes and creating additional value for our clients and injured or disabled workers. The transaction extends our industry-leading expertise in medical cost containment and clinical solutions.”
Based in Kansas City, MO, CompAlliance has served the Workers’ Compensation industry since its founding in 1992 and offers the aforementioned broad range of services. The company has approximately 125 employees and professionals serving their customers.
“CompAlliance has established a strong market position as a firm for nearly three decades and built long-term relationships with their employees and clients which is consistent with our culture,” said Peter Madeja, Genex Services, LLC, President and CEO.
“CompAlliance is very excited to join Mitchell | Genex as we continue to lead the way in managing medical costs and the return-to-work process of injured or disabled employees,” said Jim Weir, CompAlliance President. “This combination will provide CompAlliance the ability to provide our clients with an expanded and strengthened service offering that we are confident will create increased value for all parties.”
Bailey Southwell served as the exclusive strategic and financial advisor to CompAlliance on the transaction.
Source: Mitchell | Genex