Wellpoint Health Ltd. Merges with Benchmark Independent Medical Examinations Inc.
FOR IMMEDIATE RELEASE
TORONTO, February 16, 2017 – Wellpoint Health Services Corp. (“Wellpoint”) is excited to announce a merger with 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.
“Benchmark is a leader in providing high quality reports that their customers can count on under all circumstances,” said Lorne Sugarman Chief Executive Officer of Wellpoint. “Their business model, capabilities and culture are highly complementary to Wellpoint and our combined capabilities and customer base will provide even greater leverage to key growth markets throughout Canada that would otherwise not be available to us as independent entities.”
“We are both proud of the entrepreneurial and client-focused businesses we’ve built,” said Mathew Raymond, Founder and Manager of Operations of Benchmark. “Looking forward, we recognize that this is an opportunity for both companies to participate in the acceleration of a shared vision to create Canada’s leading health services business.”
Lorne Sugarman, President of Wellpoint, commented, “The acquisition of Benchmark is another transformative step in Wellpoint’s history and key to our future success. The ability to bring these two great companies and management teams together represents a unique opportunity to create value for our customers and shareholders. This is an exciting time for Wellpoint and we look forward to working with the team at Benchmark as we enter the next phase of growth.”
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.