The Guardian Life Insurance Company of America (Guardian), a provider of employee benefits and dental insurer in the US, has signed an agreement to purchase Premier Access Insurance Company, for an undisclosed sum.
Acquisition of Premier Access that offers dental coverage and care to employers and individuals with more than 634,000 members, will boost Guardian’s existing dental network while expanding into the medicaid and individual exchange markets.
Furthermore, the takeover will also enable the acquirer to boost its existing Dental Preferred Provider Organization (PPO) and Dental Health Maintenance Organization (DHMO) network in several states including California, Utah, Nevada and Arizona.
Guardian believes that the transaction will also bolster its reach into the state-run Medicaid and Children’s Health Insurance Program (CHIP) markets which are expected to grow significantly due to expanded eligibility under the Affordable Care Act (ACA).
Following completion of the transaction, Guardian will also gain a presence on six individual state exchanges, complementing its existing offering on 48 of the small business health (SHOP) exchanges.
Guardian executive vice president Dong Ahn said, "ACA is changing the dental benefits landscape. It is the responsibility of insurers such as Guardian to deliver cost-effective, quality dental care to more Americans where and how they are looking to be served.
"Guardian’s acquisition of Premier Access demonstrates our commitment to maintaining our position as a leading dental company while expanding our reach to serve more customers who are seeking access to dental insurance through Medicaid and the exchanges."
Premier Access customers will now gain access to Guardian’s nationwide dental network, while Premier’s exchange and government-funded program businesses will expand nationally.
Established in 1989 and based in Sacramento, California, , Premier Access has a work force of 620 staff and serves more than 5,000 employer plans as well as manages 18 dental centers.
——————————————————————————————————————————————————————————————-Image: Guardian acquires Premier Access Insurance Company. Photo: courtesy of adamr.