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June 20, 2001 at 08:00 PM
NU Online News Service, June 20, 1:35 p.m. – Sun Capital Partners Inc., Boca Raton, Fla., an investment firm, says it has helped a group of executives led by Jeffrey Bak acquire HealthPlan Services Inc., Tampa, Fla., from its parent company, Plan Vista Corp., Tampa.
HealthPlan Services is a major “third-party administrator. It administers health plans for employers, health insurers and health maintenance organizations. It manages coverage for 1.5 million U.S. residents and 100,000 U.S. businesses.
The Bak team also acquired three related businesses from Plan Vista: American Benefit Plan Administrators Inc., El Monte, Calif., a TPA that manages health plans for unionized employees; Southern Nevada Administrators Inc., Las Vegas, a TPA for health plans in Nevada; and Montgomery Management Corp., Blue Bell, Pa., a company sells stop-loss insurance for self-funded employee health plans.
