"PacFed is another important step in our strategic plan to expand our footprint," said Art Schultz, chief executive officer, Zenith. "We look forward to continuing to pursue a strong pipeline of opportunities that will enable us to extend and enhance our services to clients in today's ever-changing benefit plan environment."
Jim Garrison, president of PacFed, added, "Zenith is the leader in our industry and well-known for going above and beyond to serve its clients. I am excited to combine our expertise and capabilities to provide our customers and their employees with more comprehensive services in the future."
Mr. Garrison will continue to lead PacFed and report directly into Mr. Schultz. The acquisition is effective immediately. Financial terms are not being disclosed.
About Pacific Federal
Pacific Federal, LLC (PacFed) is one of California's most experienced privately owned employee benefits firms. PacFed assists businesses in carrier negotiations and the administration of employee benefit coverages. It also offers online services, member assistance, workplace support, consolidated billing, COBRA administration and compliance notification. Visit www.pacfed.com for more information.
About Zenith American Solutions, Inc.
Zenith American Solutions, Inc. (Zenith) has been providing high-quality administrative services since 1944. With 44 offices across the country, Zenith manages benefit plans as a third-party benefits administrator (TPA) serving over 700,000 health plan members and dependents, and over 800,000 retirement plan participants for Taft-Hartley trust funds, trade associations, government entities and corporate employers. Zenith American Solutions is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry. For more information, visit www.zenith-american.com.
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SOURCE Zenith American Solutions, Inc.