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Sedgwick Claims Management Services Inc. in September finalized its acquisition of fellow top 10 third-party administrator York Risk Services Group Inc. in a transaction experts say is indicative of a continued trend toward consolidation in the sector.
A story looking at the implications of the deal for the TPA sector, which ran when the deal was first announced in July, was the fourth most read workers compensation article on Business Insurance’s website in 2019.
The deal to buy York, which was the fifth largest TPA, helped cement Sedgwick’s position as the longtime largest TPA by some distance.
The combined organization will have 27,000 staff in 65 countries.
Other TPA deals in 2019 included Helmsman Management Services LLC’s acquisition of boutique TPA Eberle Vivian Inc. and Davies Group Ltd.’s purchase of Alternative Service Concepts LLC.
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