M&A Deal Summary

Coverys Acquires Preferred Professional Insurance Company

On May 12, 2014, Coverys acquired insurance company Preferred Professional Insurance Company

Acquisition Highlights
  • This is Coverys’ 2nd transaction in the Insurance sector.
  • This is Coverys’ 2nd transaction in the United States.
  • This is Coverys’ 1st transaction in Nebraska.

M&A Deal Summary
Date 2014-05-12
Target Preferred Professional Insurance Company
Sector Insurance
Buyer(s) Coverys
Deal Type Add-on Acquisition
Advisor(s) Raymond James - Investment Banking (Financial)
Kutak Rock (Legal)

Target

Preferred Professional Insurance Company

Omaha, Nebraska, United States
PPIC is an A.M. Best Rated A- financially strong company that is owned by a group of Catholic health systems, representing over 600 acute care facilities, 300 long term care facilities, and employing thousands of healthcare providers.

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Buyer(S) 1

Buyer

Coverys

Boston, Massachusetts, United States
Category Company
Sector Insurance
DESCRIPTION

Coverys is a medical professional liability insurance provider in the country based on direct written premium. Coverys member companies insure more than 25,000 physicians, surgeons, dentists, certified nurse midwives and allied healthcare providers, as well as more than 500 hospitals, health centers and clinics in 26 states from coast to coast.

DEAL STATS #
Overall 2 of 8
Sector (Insurance) 2 of 5
Type (Add-on Acquisition) 2 of 7
State (Nebraska) 1 of 1
Country (United States) 2 of 7
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-28 OHA Holdings Inc

Columbus, Ohio, United States

OHA Holdings is a holding company that operates through its insurance company subsidiary to help bring long-term availability, predictability and stability to the Ohio medical professional liability marketplace for hospitals and physicians.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-11 ELM Exchange

Rockville,, Maryland, United States

ELM provides customized online educational programs that are designed to help healthcare providers minimize clinical risk and maximize patient safety and satisfaction. Company programs currently service more than 95 client organizations representing approximately 1,000 hospitals, office practices and healthcare facilities throughout the country.

Buy -
Mergr

Product

Company

Legal