Wellpoint Health Ltd. Completes Financing for the Acquisition of Benchmark
FOR IMMEDIATE RELEASE
TORONTO, February 16, 2017 – Wellpoint Health Services Corp. (“Wellpoint”) is excited to announce the completion of a financing transaction for the merger of Benchmark Independent Medical Examination Inc. (“Benchmark”) the merger with Benchmark, a leading provider of Independent Medical Examinations (“IME’), by its wholly owned subsidiary, Wellpoint Health Ltd. is effective February 1, 2017.
Benchmark provides a comprehensive range of Independent Medical Examinations (“IME”) to Property and Casualty Insurers, Group Life and Health Insurers, Government, Employers, and the legal community.
Benchmark utilizes a proprietary IME technology platform, professional staff and Regulated Healthcare Practitioners, a management process that is ISO 9001:2008 certified, and has CARF accreditation.
Benchmark will augment Wellpoint’s Disability Management division, which will focus on a broad array of employer-focused disability related services. As Wellpoint grows its disability management group Benchmark will grow its corporate roster of clients.
“This financing was an important next step in the evolution of Wellpoint allowing us to continue to grow both organically and thru acquisitions.” said Lorne Sugarman Chief Executive Officer of Wellpoint. “The completion of this acquisition shows the strength of our shareholder base and our business model.”
Wellpoint also announced that Noble Chummar has resigned from the board of directors, and Shawn Dym has been appointed to replace Noble.
Lorne Sugarman, CEO of Wellpoint, commented, “I would like to thank Noble for his dedication and long service to Wellpoint. I am also very excited to welcome Shawn to our board, he brings a strong took kit of entrepreneurial experience and finance acumen.”
Shawn Dym currently serves as managing director of York Plains. He has been involved in the energy industry for more than 10 years in various operational and corporate development roles. Dym was a co-founder of National Home Services (NHS) and served as chief operating officer from 2008 to 2011. During that time NHS grew to more than $300 million in contracted revenue with 100,000+ customers. He graduated from York University and holds an M.B.A. from Harvard Business School.
Shawn Dym stated “I thank the Board for their confidence in proposing me and I’m looking forward to working with Lorne in Wellpoint’s continued success. I believe my wealth of proven and seasoned professional and personal skills will blend very well with Wellpoint’s experienced management and company culture.”
KES 7 Capital Inc acted as financial advisor to Wellpoint.
About Wellpoint Health Service Corp.
Wellpoint Health has been a leading national provider of occupational health services since 2004. Wellpoint Health is one of Canada’s most trusted occupational health and safety companies. Wellpoint Health provides quality service consistently across the country by offering a unique range of services that focus on keeping your workforce healthy, productive, and safe.