LONG BEACH, Calif.–(BUSINESS WIRE)–January 24, 2022–
TRISTAR Insurance Group, Inc. (TRISTAR), the largest independent and private third-party claims administrator in the United States, has agreed to acquire Risico Claim Management, Inc. and Risico’s self-insured book Total Managed Care, Inc. work. The transaction is expected to close on February 1, 2022.
Risico was founded by William J. Van Beurden (Bill) in 1999. Their customers consist primarily of government agencies and food processors. Their Fresno-based team offers decades of experience serving California employers. The acquisition is a strategic move that will further strengthen TRISTAR’s footprint in California’s Central Valley.
“We are very pleased to join the TRISTAR family,” said Steven C. Wigh, Chief Operating Officer of Risico Claims Management, Inc. “This decision provides our employees and self-insured customers with access to resources that a well-established national TPA can provide.We look forward to adding to TRISTAR’s already significant presence in Fresno and the greater San Joaquin Valley.
Tom Veale, President of TRISTAR, said, “We are delighted that the Risico and Total Managed Care teams are joining the TRISTAR organization. They have built a strong reputation in public agencies and food processing industries and add significantly to our work force. We believe the business that Bill and Steve have built is culturally a perfect fit for our business. »
Terms of the transaction were not disclosed.
Based in Fresno, Risico specializes in providing services to public agencies and food processors, offering highly efficient claims management, managed care/utilization review, invoice review and MPN management services. “Risico” is Dutch for “risk”, reflecting the family heritage of owner Bill Van Beurden, a former insurance executive and entrepreneur. Mr. Van Beurden founded AARLA (now Risico) in 1999 and Total Managed Care (TMC) in 2000.
TRISTAR is the largest third-party claims administrator and managed care provider in the United States. Based in Long Beach, Calif., TRISTAR employs approximately 850 professionals working in 30 offices or remotely nationwide. TRISTAR provides excellent claims and risk management services to its clients, including self-insureds, insurance companies, program underwriters, public entities and risk pools. Services include administration of claims for property damage and employee benefits, security and loss control, medical case management, utilization and review of medical bills.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220124005218/en/
CONTACT: For Risico
Steven C. Wigh
Vice President of Sales and Marketing
562.495.6600 extension 3477
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL HEALTH SERVICES OTHER PROFESSIONAL SERVICES MANAGED CARE INSURANCE
Copyright BusinessWire 2022.
PUB: 01/24/2022 12:02 PM/DISC: 01/24/2022 12:02 PM
Copyright BusinessWire 2022.