UnumProvident Corp. has agreed to sell its GENEX Services Inc. unit to a private equity firm.
UnumProvident, Chattanooga, Tenn., is not saying how much the private equity firm, a fund managed by Stone Point Capital L.L.C., Greenwich, Conn., will be paying for GENEX, Wayne, Pa., but it says it hopes to complete the deal by June 30 and continue to have a close relationship with GENEX.
GENEX helps employers control the cost of workers’ compensation and health insurance programs.