ABRY Partners has agreed to buy International Medical Group Inc. Financial terms weren’t announced. Altaris Capital Partners and Galen Partners are the sellers. Indianapolis-based International Medical provides benefits and assistance services to members in more than 200 countries. Greenhill facilitated the transaction.
INDIANAPOLIS, Sept. 10, 2015 /PRNewswire/ — International Medical Group®, Inc. (IMG®), a leader in the global insurance and assistance services market, has signed a definitive agreement to be acquired by ABRY Partners (ABRY), a leading private equity firm headquartered in Boston, Massachusetts.
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“ABRY is a natural fit for ownership as IMG continues to grow,” said IMG President and CEO Brian Barwick. “With decades of experience investing in high-quality companies, ABRY will complement IMG’s growth by providing capital to further expand our global presence.”
IMG’s operations will not be impacted by the ownership change, Barwick said, adding, “It will be business as usual for our employees, producers and clients.”
Founded in 1989 as a managing general underwriter, IMG has become one of the leading international insurance providers in the world, serving members in more than 200 countries.
“Over the years, IMG has developed a reputation for excellence in the global insurance and assistance services markets,” said ABRY Partner Brent Stone. “We are excited to welcome such a well-established company to our portfolio and look forward to working with the IMG team.”
IMG’s executive management team, Board of Directors and current private equity partners — Altaris Capital Partners and Galen Partners — approved the agreement.
Executive Vice President and Chief Operating Officer Todd Hancock said, “ABRY shares our vision, energy and commitment to being there to protect and enhance the health and well-being of our constituents. We look forward to working with ABRY, and we are grateful to Altaris and Galen Partners for their support since August 2012.”
Greenhill, a leading independent investment bank, facilitated the transaction. Terms of the transaction were not disclosed.
About International Medical Group, Inc.
For more than 25 years, International Medical Group — headquartered in Indianapolis, Indiana, U.S.A. — has provided global benefits and assistance services to millions of members in more than 200 countries. We’re committed to being there with our members wherever they may be in the world, helping to deliver Global Peace of Mind®. With 24/7 medical management services, multilingual claims administrators and highly trained customer service professionals, IMG is confident in its ability to provide the products international members need, backed by the services they want. IMG’s global family of companies includes Akeso Care Management®,IMG Europe Ltd., IMG-Stop LossSM, Global Response Ltd., iTravelInsured® and International Medical Administrators, Inc.
About ABRY Partners
Founded in 1989 and headquartered in Boston, Massachusetts, ABRY Partners is an experienced and successful private equity investment firm focused on media, communications, insurance, business and information services. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties.
SOURCE International Medical Group, Inc.