Genex Services Acquires Excel Managed Care, Expands Clinical Services
WAYNE, Pa.--(BUSINESS WIRE)--Jan 3, 2019--Genex Services, a leader in medical cost containment and disability management services, has announced its acquisition of Excel Managed Care & Disability Services, an established provider of occupational and non-occupational medical case management, utilization review and return-to-work services for the workers’ compensation and disability markets. Financial terms were not disclosed.
With this acquisition, Genex – already the largest case management company in the U.S. – increases its number of employee case managers to more than 1,600. It also extends and enhances Genex’s national market position in the states where Excel does business, particularly along the West Coast, enabling more workers’ compensation payers and risk managers to access its specialized managed care services that transform bottom lines.
“The acquisition of Excel Managed Care & Disability Services allows both companies to expand the breadth and depth of our services,” said Peter Madeja, CEO and President of Genex Services. “Both Genex and Excel employees are committed to facilitating the recovery of injured and disabled workers and delivering exceptional claim outcomes by controlling medical costs and disability durations. Excel will continue to be led by Brenda Smith, President, and Steve Smetana, Vice President, and operate under their brand.”
Based in Sacramento, CA, Excel has been offering medical case management and disability management services since 1992. Excel’s customers include employers, insurers and claims administrators with employees covered by workers’ compensation, group health and long-term disability insurance. The company has approximately 125 employees and professionals serving their customers.
“Both Genex and Excel have a proud tradition of efficiently and effectively managing the medical recovery and return-to-work process of injured workers,” said Brenda Smith, RN, BSN, CCM, President of Excel. “We’re excited about the acquisition. The combination of our excellent professionals and services will make a substantial impact on our mutual goal of achieving the expeditious restoration of health and productivity to those who have lost these by illness or injury.”
StoneRidge Advisors LLC served as the exclusive strategic and financial advisor to Excel on the transaction.
About Genex Services, LLC
Genex Services ( www.genexservices.com ) provides best-in-class clinical solutions that enable customers to transform their bottom lines while enhancing the lives of injured and disabled workers. Genex, a clinical management leader throughout North America, serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators and a significant number of Fortune 500 employers. In addition, Genex clinical services are enhanced by intelligent systems and 360-degree data analysis. Its clinical expertise consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. Genex Services and Mitchell International merged recently to create the broadest continuum of technology and products servicing the auto, workers’ compensation, and disability markets.
About Excel Managed Care & Disability Services
Excel Managed Care & Disability Services ( www.excelmanagedcare.com ) provides occupational & non-occupational medical case management, utilization review and return-to-work services to employers, insurers, and claims administrators with employees covered by workers’ compensation, group health, and long-term disability. Its multi-state presence provides clients with a proactive partner to manage all aspects of their disability programs.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190103005162/en/
CONTACT: Tom Kerr
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA PENNSYLVANIA
INDUSTRY KEYWORD: HEALTH PROFESSIONAL SERVICES HUMAN RESOURCES INSURANCE MANAGED CARE
SOURCE: Genex Services
Copyright Business Wire 2019.
PUB: 01/03/2019 02:00 PM/DISC: 01/03/2019 02:01 PM