Companion Life Insurance Co. Acquires Utah-Based Total Dental Administrators

COLUMBIA, S.C., Feb. 1, 2011 /PRNewswire-USNewswire/ -- Companion Life Insurance Co. of Columbia, S.C., announced today that it has purchased Total Dental Administrators Inc. (TDA), a dental insurance provider and third-party administrator of employer-based dental plans headquartered in Salt Lake City.

The acquisition includes TDA and its affiliates and subsidiaries: Dental Management Administrators Inc. and Total Dental Administrators of Utah Inc., both based in Salt Lake City, and Total Dental Administrators Health Plan Inc. of Phoenix. Terms of the purchase were not disclosed. TDA has a total of 52 employees in its Arizona and Utah operations.

According to Companion Life President Trescott N. Hinton Jr., TDA will retain its name and continue to operate independently. TDA's core management team will remain in place, under the leadership of company founder and CEO Jane Ann Morrison-Craig.

Companion Life is a national leader in providing group dental insurance. TDA is a total dental benefits company, providing comprehensive dental care through both traditional and managed alternative programs. The two companies have benefited from a 10-year relationship, with TDA serving as a third-party administrator of Companion Life plans.

"TDA is among the most innovative and efficient companies in the dental benefits industry," Hinton said. "This is an excellent strategic fit for Companion Life and a natural extension of our business model. The acquisition of TDA and the expansion into a Western region will enhance Companion Life's administrative capabilities and provide us with ownership of a viable network of dentists in Arizona and Utah."

Morrison-Craig stated, "Partnering since 2001, TDA and Companion Life have successfully combined our resources and vision to become the premier provider of dental benefits in the Southwest. As a result of sharing similar energy, values and objectives, our two organizations enjoy a synergistic and dynamic relationship that continues to benefit our clients, producers and the dental community. We at TDA are honored to be making this significant transition to becoming a Companion Life company."

About Companion Life

Headquartered in Columbia, S.C., Companion Life Insurance Co. (www.CompanionLife.com) has specialized in employee benefits since 1971. The company markets life, dental, disability, accident and specialty health insurance products through a network of independent agents and brokers, general agents and managing general underwriters. Companion Life markets its products and services in 46 states and the District of Columbia. The company holds an A+ (Superior) rating from A.M. Best Company.

About Total Dental Administrators

Total Dental Administrators Inc. (www.TDADental.com), headquartered in Salt Lake City, is a total dental benefits company. It provides group and individual dental plans, as well as third-party administration of employer dental plans, with a historical commitment to efficient administration and effective cost-containment. Employers and members benefit from TDA's expertise in plan design, development and review, network development and expansion, quality assurance programs, dentist and member surveys, risk evaluation recommendations, and education campaigns.

SOURCE Companion Life Insurance Co.