Meritain Health buys CBSA PERFORMAXPosted On: Dec. 5, 2006 12:00 AM CST
AMHERST, N.Y.--Meritain Health Inc., a leading provider of health plan management services to midsized self-funded employers, is acquiring Baltimore-based plan administrator CBSA PERFORMAX.
The acquisition, announced Tuesday, follows privately held Meritain's earlier purchase of Weyco Inc., a third-party medical benefits administrator based in Okemos, Mich., and Baltimore-based CBSA PERFORMAX's merger with Minneapolis-based Corporate Benefit Services of America, both of which occurred in August.
Terms of the deal were not disclosed.The combined companies will operate under the Meritain Health name and maintain CBSA PERFORMAX's presence in both Baltimore and Minneapolis, as well as its regional sales offices.
Jacob L. Canova, president and chief executive officer of CBSA PERFORMAX, will become chairman and CEO of Meritain Health, replacing Elliot Cooperstone, who remains CEO of Westport, Conn.-based Prodigy Health Group, Meritain's parent company.
Ian Gordon, formerly chief operations officer at Concentra Network Services Inc., has been named president and COO of Meritain. CNS is a division of Concentra Inc., the Dallas-based provider of workers' compensation and occupational health care services and specialized cost management services.
As a result of the acquisitions and mergers, Amherst, N.Y.-based Meritain will have 28 offices throughout the United States and more than 1,400 employer clients that collectively provide health benefits to more than 1 million employees and dependents.