The purchase marks
Sedgwick's third acquisition of a TPA in five years.
Sedgwick Group President Michael (https://www.claimsjournal.com/news/national/2019/07/09/291842.htm) Arbour told Claims Journal that the purchase of York will enhance the company's scope of services and improve its access to talent in the claims industry.
Fiscal depute Gavin Letford said
Sedgwick "pointed to a nearby lorry" and said: "I'm going to get on that bus."
Following the close of the transaction, the
Sedgwick family will comprise nearly 27,000 colleagues.
Sedgwick announced Monday that it has signed an agreement to purchase York Risk Services, continuing a long-term consolidation trend among third-party administrators.
Sedgwick and CIC were the lowest responsive bidders for that part of KPC's insurance requirements.
Funds managed by Stone Point Capital LLC and Caisse de depot et placement du Quebec (CDPQ), together with
Sedgwick management, remain minority investors.
Sedgwick announced that affiliates of funds managed by The Carlyle Group (CG) have agreed to become the majority owner of
Sedgwick in a transaction valued at approximately $6.7B.
We all have a deep desire, a deep need, to ignore what is happening here," writes Marcus
Sedgwick midway through Saint Death.