HealthPlan Holdings, a provider of outsourced solutions to insurers in the individual, union trust and voluntary benefits markets, has acquired US-based third-party administrator, Zenith Administrators.
Zenith Administrators specializes in the management of health and pension plans.
With this acquisition, HealthPlan Holdings has become a major national third-party administrator of health care, retirement and other benefits to Taft-Hartley trust funds, and state and municipal plans.
Together, ABPA and Zenith will have more than 1,200 employees dedicated to providing benefit administration services to nearly two million plan participants across the country.
The newly merged companies will offer customers a wide range of services to administer benefits and manage compliance requirements associated with their Taft-Hartley plans.
In addition, ABPA and Zenith will have a significantly greater geographic presence to provide customers with localized expertise and support.
As a part of this acquisition, Art Schultz, previously executive vice president and COO of the firm, will serve as CEO of the combined company and John Corapi will continue to serve as president of Zenith.
HealthPlan president and CEO Jeff Bak said this acquisition enables both the companies to offer the industry’s most comprehensive administration solutions that can be customized to meet clients’ unique requirements for all aspects of their benefit programs.