Axiom Re, an indirect subsidiary of Brown & Brown, has acquired certain assets of Axia Strategies, as part of its strategy to strengthen its footprint in the region.
The transaction was announced by J. Scott Penny, Regional President and Chief Acquisitions Officer of Brown & Brown,(BRO), and Michael J. Harrington, Thomas J. Schori, Jeffrey J. Schulte, and Robert P. Ziomek, Jr., the principals of Axia Strategies
Founded in 1998, Axia Strategies provides health care consulting services, including catastrophic care solutions, pharmacy benefit management (PBM), and other medical management and specialized solutions to clients located throughout the United States and has annual net revenues of approximately $3.6 million.
Following the transaction, Axia’s principals and their team will continue to serve their clients from Axia’s existing office in Savage, Minnesota.
Ron Taylor, Executive Vice President of Axiom Re, stated, "For years, Axia Strategies has excelled by bringing customized and hands-on solutions to its client base. The Axia principals bring extensive experience in the health care consulting marketplace. We believe this transaction enables us to better serve our new and existing clients by offering a broader menu of diverse and specialized services."
Robert Ziomek, Jr. stated, "We have enjoyed working with Brown & Brown on this transaction and admire the firm and its leadership. As importantly, the Axia partners believe that our core consultative services are ideally positioned within this new business model, allowing for continued expansion and robust growth for the foreseeable future as we develop both current and new client relationships."