America's Benefit Specialist June 2023

mentation of a payroll human capital management system as well as ongoing technical support for their payroll HCM. ARTHUR J. GALLAGHER & CO. ACQUIRES LEAVITT INSURANCE SERVICES Arthur J. Gallagher & Co. recently announced the acquisition of Woodland Hills, California-based Leavitt Insurance Services of Los Angeles. Leavitt offers commercial property/casualty insurance as well as employee benefits consulting to clients in the Southwest U.S. Teri Frankel, Kenneth Blaich and their team will remain in their current location under the direc tion of Scott Firestone, head of Gallagher’s Southwest region retail property/casualty brokerage operations, and Charlie Isaacs, head of Gallagher’s West region employee benefits consulting operations. BRIGHT HEALTH GROUP LOOKS TO SELL MEDICARE ADVANTAGE BUSINESS Bright Health Group Inc. is exploring strategic alternatives for its California Medicare Advantage business, which consists of Brand New Day and Central Health Plan, with a focus on a potential sale. The proceeds would substantially bolster the Company’s financial position and establish a strong founda tion for long-term sustainable growth. As it takes this action, the company will continue to focus on capturing the shift to value-based, consumer-driven healthcare through its Con sumer Care Delivery business, while working to wind-down and exit its ACA insurance business. Bright Health is also announcing that it has extended a waiver and amendment to its credit facility through June 30. Manny Kadre, lead independent director of Bright Health’s Board of Directors, said, “We have received inbound interest in Bright Health’s California Medicare Advantage business, and given this, the Board has decided to review strategic alternatives alongside other financial options. Bright Health’s California Medicare Advantage business is strong and uniquely positioned to deliver culturally competent, localized care to nearly 125,000 aging and underserved consumers in California. Throughout this process, we are committed to enhancing value for all stakeholders and remaining true to Bright Health’s mission of making healthcare right, together.” There can be no assurances as to the timing, terms or structure of any potential transaction or that a transaction will be consummated at all, and any decision with respect to a potential transaction remains subject to approval by the Bright Health Board of Directors.

Moelis & Company LLC is serving as Bright Health’s finan cial advisor and Simpson Thacher & Bartlett LLP is serving as Bright Health’s legal advisor in connection with this process. KAISER TO FOLD GEISINGER INTO NEW VALUE BASED CARE COMPANY Kaiser Permanente and Geisinger Health have agreed to create a new company called Risant Health, which plans on making more acquisitions in the years to come. Under the deal, Geisinger would become a part of Risant and keep its name. The agreement is subject to federal and state regu lators. Like California-based Kaiser and Pennsylvania-based Geisinger, Risant would be a nonprofit, and it would be head quartered near Washington DC. According to The Wall Street Journal , Risant seeks to acquire four or five more hospital systems and get to total revenue of $30 billion to $35 billion over the next five years, and Kaiser is expected to provide about $5 billion in funding to Risant. Risant Health will operate separately from Kaiser Permanente, while health systems that join the new firm will also retain distinct identities in their communities. Jaewon Ryu, MD, JD, who became Geisinger’s CEO in 2019, will become the new CEO of Risant Health. “Through Risant Health, we will make our value-based care expertise, technology and services available to communi ty-based health systems, like Geisinger, to strengthen their ability to provide value-based care models with a focus on high-quality and equitable health outcomes,” said Greg. A. Adams, chair and CEO, Kaiser Permanente. AXIM FRINGE SOLUTIONS GROUP ACQUIRES PERKS SHOWCASE AXIM Fringe Solutions Group, a provider of employee bene fits and engagement solutions, has announced the acquisi tion of PERKS Showcase, an employee communications and engagement platform. By integrating PERKS’ Showcase platform with AXIM’s suite of fringe benefits solutions, the two companies hope to create an all-inclusive employee engagement experience. The combined offering will drive employee satisfaction, productivity and loyalty while helping organizations attract and retain top talent. Features of the combined AXIM and SHOWCASE offering include: Personalized Benefits: AXIM’s comprehensive range of fringe benefits solutions, including healthcare, retirement plans and wellness programs, will be tailored to meet the

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