Sedgwick CMS Acquires the Assets of Cambridge Integrated Services Group, Inc.
MEMPHIS, Tenn., May 31, 2011 /PRNewswire/ -- Sedgwick Claims Management Services, Inc. (Sedgwick CMS) today announced that it has acquired the assets of Cambridge Integrated Services Group, Inc. ("Cambridge") including the stock of Cambridge Galaher Settlements & Insurance Services, Inc., a direct, wholly-owned subsidiary of Cambridge. The agreement signing and closing occurred simultaneously today.
For Sedgwick CMS clients, the addition of Cambridge promises an even stronger talent pool and resources for providing our clients with efficient and effective claims solutions. This acquisition also enhances the company's ability to offer the most comprehensive array of services in the industry, with added value in the areas of transportation liability, consumer financial services, structured settlements, and Medicare compliance. The transaction includes the purchase of Cambridge's technology infrastructure that will enable continued delivery of services to Cambridge clients.
Sedgwick CMS will extend employment offers to all of the talented employees of Cambridge, adding to the intellectual capital and sharing of best practices that will ultimately benefit both organizations. The addition of the Cambridge employees to the Sedgwick CMS family also means that existing service teams will remain in place without interruption, and the clients of Cambridge will continue to work with the same trusted teams they work with today.
"This is exciting news for the clients and colleagues of both companies. As one team, we will offer clients the most comprehensive range of services in the industry delivered by the same experienced teams and innovative systems they work with today," said David A. North, President and CEO of Sedgwick CMS. "We welcome Cambridge's outstanding clients and colleagues, and are pleased to provide the stability and backing of the entire Sedgwick CMS organization."
About Cambridge Integrated Services Group, Inc.
Cambridge Integrated Services Group, Inc. (100% owned by Cambridge Solutions Ltd, which in turn is 76% owned by Xchanging plc) is a leading property and casualty claims and risk management service provider. Cambridge serves Fortune 500 self-insured employers, insurance carriers and public entities in the U.S., Europe and Australia. Claims services span workers' compensation; general, auto, professional and product liability; property and assumed/ceded reinsurance. Cambridge also offers a wide array of specialty risk management services including outcomes management and audit consulting, managed care, special investigations, structured settlements and subrogation/recovery services.
About Sedgwick CMS
Sedgwick Claims Management Services, Inc. is the leading North American provider of innovative claims and productivity management solutions. Sedgwick CMS and its affiliated companies deliver cost-effective claims administration, medical management, risk consulting, and related services to clients through the expertise of approximately 8,500 colleagues in more than 170 offices in the U.S. and Canada. The company specializes in workers' compensation; disability, FMLA and other employee absence; general, automobile and professional liability; and warranty and credit card claims services as well as Medicare compliance solutions. Sedgwick CMS and its affiliates design and implement customized programs based on proven practices that meet client needs. For more, see www.sedgwickcms.com.
CONTACT: Peg Brooker, Communications Director, Sedgwick CMS Corporate Communications, 860-520-2634, firstname.lastname@example.org
SOURCE Sedgwick Claims Management Services, Inc.
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