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Mercer L.L.C. has agreed to buy Transition Assist, a Norwell, Mass.-based private health care exchange specializing in coverage for Medicare-eligible retirees, the consulting firm said Monday.
The acquisition of Transition Assist will broaden exchanges currently offered by Mercer “by providing immediate access to the individual and employer-sponsored retiree market,” said Julio Portalatin, New York-based president and CEO of Mercer, in a statement.
Transition Assist will allow “our clients to manage costs while offering their retiree population affordable, quality insurance choices with a high-degree of dedicated personalized support,” Mr. Portalatin added.
Financial terms of the transaction were not disclosed.
John Connor, founder of Transition Assist, will join Mercer as a partner and will lead Mercer's “efforts in the marketing and sales of retiree exchanges services,” a Mercer spokesman said.
Mercer's acquisition of Transition Assist is the second in recent months in the rapidly growing private health insurance exchange market. In November, Towers Watson & Co. acquired Buffalo, N.Y.-based Liazon Corp., which operates the Bright Choices private health insurance exchange, for $215 million.