The Hilb Group (THG) announced the acquisition of Ocean Township, NJ-based PriMed Consulting. The transaction became effective Feb. 1, 2016.
PriMed Consulting has been providing physicians in New York and New Jersey with medical malpractice insurance for more than 18 years.
As the second transaction in 2016 and ninth in the past 12 months, this acquisition will expand THG’s medical malpractice expertise and establish its first location in New Jersey.
"PriMed is a leader in medical malpractice services in New York and New Jersey," said Bob Hilb, CEO of The Hilb Group. "Their specialty focus goes a long way toward strengthening both our service offerings and presence in the region."
Gabrielle Lamb, President of PriMed, will continue to lead the agency’s 13 employees under its current name and will serve as a medical malpractice resource to other Hilb offices.
"We’re looking forward to the added capabilities we’ll have as part of The Hilb Group," said Lamb. "Access to a national network and pool of resources will help us provide clients with better, more expansive service than ever before."
"PriMed is proud and excited to be a part of The Hilb Group and its growth," said Prem Belani, owner of PriMed. "PriMed’s clients and employees will benefit from the enhanced products and services offered by THG."
The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Va. and is a portfolio company of Boston-based private equity firm, ABRY Partners.
The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The company now has 40 offices in Florida, Kentucky, Maryland, Massachusetts, New Jersey, New York, North Carolina, Tennessee, Texas, Virginia, and West Virginia.