M&A Deal Summary

Health Care Service Acquires Trustmark Health Benefits

On August 11, 2022, Health Care Service acquired business services company Trustmark Health Benefits

Acquisition Highlights
  • This is Health Care Service’s 1st transaction in the Business Services sector.
  • This is Health Care Service’s 2nd transaction in the United States.
  • This is Health Care Service’s 1st transaction in Illinois.

M&A Deal Summary

Date 2022-08-11
Target Trustmark Health Benefits
Sector Business Services
Buyer(s) Health Care Service
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Latham & Watkins (Legal)

Target

Trustmark Health Benefits

Lake Forest, Illinois, United States
Trustmark Health Benefits designs and offers custom plans that help manage costs through innovative solutions, data transparency and member-centric support. Trustmark Health Benefits is based in Lake Forest, Illinois.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Health Care Service

Chicago, Illinois, United States

Category Company
Sector Healthcare Services
DESCRIPTION

HCSC is a customer-owned health insurer in the United States and fourth largest overall, operating through its Blue Cross and Blue Shield® Plans in Illinois, Montana, New Mexico, Oklahoma and Texas.


DEAL STATS #
Overall 2 of 3
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Illinois) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-13 TMG Health

King Of Prussia, Pennsylvania, United States

TMG Health, Inc. is a national provider of Business Process Outsourcing solutions for Medicare Advantage, Medicare Part D and Managed Medicaid plans. With more than 19 years of experience in providing technology-enabled services to the government market exclusively, our knowledge of health plan processes, regulatory requirements, and the daily challenges plans face within the government market is second to none.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-31 Cigna - Medicare Businesses & CareAllies

Bloomfield, Connecticut, United States

Cigna's Medicare Businesses & CareAllies provides 3.6 million Medicare members, with nearly 600,000 in Medicare Advantage plans, more than 450,000 on Medicare Supplement plans and 2.5 million with Medicare Part D. CareAllies – which serves approximately 450,000 patients – is focused on driving the transition to physician value-based care by partnering with providers to form independent physician associations and accountable care organizations, as well as providing management services to support value-based care arrangements.

Buy $3.3B