Mitchell Adding QANI to Portfolio
Mitchell | Genex | Coventry has agreed to buy QualCare Alliance Networks, a managed-care organization serving New Jersey, Pennsylvania and New York.
San Diego-based Mitchell said in a press release that the purchase will strengthen its position as a market leader in provider network access, care management and workers’ compensation services. QANI will become part of the Coventry organization, a workers’ compensation managed care provider.
“Both Coventry and QANI have proud traditions of maintaining excellent provider networks,” stated Coventry President Art Lynch. “Our long-standing relationship over the past decade confirms why QANI is a good fit for Coventry both from a geographic and talent acquisition perspective.”
Headquartered in Piscataway and Egg Harbor Township, New Jersey, QANI, owned by Cigna Corp., contracts with more than 100 acute, specialty and rehabilitation hospitals, as well as 40,000 professional providers, Mitchell said. QANI also provides clinical management services that will complement similar programs offered by Coventry and Genex, the company said.
Alice Herron Lihou, president of QANI, will continue in her role and report to Lynch. The transaction is subject to customary closing conditions.
Concentrix Sells TPA Operations
Concentrix, a customer experience technology provider based in Fremont, Calif., has signed an agreement to sell its third-party administration services and software platform to Arby Partners and Hoplon Capital.
Arby is a Boston-based investment house and Hoplon is a London-based asset management provider. The two purchased Concentrix’s Insurance Services division as partners.
The agreement will create a new company that will act as a standalone business focusing on the insurance space, Concentrix said in a press release. Concentrix will continue to provide customer experience technology to its customers.
“This new investment falls directly within our strategy of partnering with high caliber management teams in the insurance services sector and we are thrilled to support this corporate carveout as we begin the process of positioning CIS as an independent company,” Arby Partners Partner Brent Stone said in a press release.
The transaction is expected to close by the end of May, Concentrix said.
Davies Acquires Grovelands
Davies announced that it has acquired Grovelands, a consulting firm headquartered in Brighton, United Kingdom that specializes in fraud, financial crime, remediation and regulatory transformation projects.
Davies said Grovelands will be incorporated into Davies Resourcing as part of its consulting and technology business run by Chief Executive Officer Mark Grocott.
Ben Wilson, Grovelands CEO and founders Mark Davies and David Leen will continue to lead the day-to-day operations and the wider team will remain in their roles within Davies.
In March, Davies announced that new shareholder, BC Partners, signed an agreement to take a majority stake in the business. Davies employs 4,300 people inBermuda, Canada, Ireland, the UK and US.
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