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Member, Beacon International Group, Ltd.
GREENWICH, Conn.—Third-party administrator Sedgwick Claims Management Services Inc. on Tuesday said it has acquired the assets of Cambridge Integrated Insurance Services Group Inc.
The acquisition, for which the financial terms were not disclosed, includes the stock of subsidiary Cambridge Galaher Settlements & Insurance Services Inc., Memphis, Tenn.-based Sedgwick said in a statement.
Cambridge, a Greenwich, Conn.-based property/casualty claims and risk management services provider, was a unit of Cambridge Solutions Ltd.
The acquisition aims to provide an “array of services in the industry, with added value in the areas of transportation liability, consumer financial services, structured settlements, and Medicare compliance,” Sedgwick said in the statement.
Employment offers have been extended to all Cambridge employees and existing services teams will remain in place without interruption, according to the statement.
Recent months have seen several TPA deals, including last weeks’ announcement by Avizent that it purchased F.A. Richard & Associates Inc.