NU Online News Service, Jan. 5, 2005, 5:10 p.m. EST
A Stamford, Conn., company has acquired control over a firm that fills temporary gaps in consumers’ health coverage.[@@]
The acquirer, Independent Holding Company, has bought an 80% stake in Health Plan Administrators Inc., Rockford, Ill., for $9.6 million in cash.
HPA was founded in 1939 and now markets short-term and temporary medical insurance products through the Web and through a network of 39,000 agents and brokers.