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Member, Beacon International Group, Ltd.
COLUMBUS, Ohio–Third-party administrator Avizent said Tuesday that it has purchased F.A. Richard & Associates Inc.
Mandeville, La.-based FARA provides workers compensation and liability claims management services while Columbus, Ohio-based Avizent, the marketing name of Frank Gates Service Co./Attenta, also provides third-party administrator claims management services along with managed care products and alternative risk products such as captive programs.
Terms of the deal were not disclosed, but Avizent said the purchase expands its footprint in the West and “significantly increases (its) operational scale in the Southeast and Northeast, where both companies have extensive resources.”
Avizent also said the purchase expands its offerings in premium audits, risk control programs, surveillance and investigative services.
Complementary services
“FARA brings expertise that complements Avizent's current product line and further establishes us as a market leader,” Avizent President and CEO Thomas W. Watson said in a statement. “We believe in taking a consultative approach to serving clients and maintaining a sharp focus on quality, and we are thrilled to offer an even greater array of services and expertise to our clients.”
FARA President and CEO M. Todd Richard added that he is “pleased to be joining such a well-respected and innovative company,” whose business model is a “perfect match.”
Ranked by 2009 revenues from claims handled for self-insured clients