What You Need to Know
- Medicare-related deals have been hot.
- Humana is getting closer to a home care provider.
- One group of private investors is selling Ascensus to another one.
In a hot Medicare-related deals market, Integrity Marketing Group LLC has acquired Plan Advisors, an independent marketing organization that specializes in selling Medicare plans.
A Dallas-based insurance distributor, Integrity Marketing has relationships with 345,000 independent agents. Those agents are on track to make about $7 billion in new sales this year.
Plan Advisors has offices in Louisville, Kentucky, and Cooper City, Florida. Affiliated agents will help about 100,000 people sign up for new Medicare plans this year.
Lance Hoeltke and Carlos Rivera, the managing partners at Plan Advisors, will become managing partners with Integrity Marketing.
In 2021, Plan Advisors will enroll over 100,000 Americans into new Medicare plans.
Integrity Marketing also has acquired Deft Research LLC, a Minneapolis-based health insurance market research firm that’s best known for its research on Medicare plan prospects.
Three co-founders of Deft Research, Randy Herman, Dan Freier and Rich Hamer, and two other company executives, George Dippel and Tim Brousseau, will become Integrity Marketing managing partners.
In other deal news:
Humana Inc. has agreed to acquire the 60% interest in Kindred at Home that it does not already own from the firm’s other parent, TPG Capital, for $5.7 billion.
The Louisville, Kentucky-based health insurer says the deal gives the entire Kindred at Home business a value of about $8.1 billion.
Kindred at Home is an Atlanta-based company that provides home health and hospice services. It serves 550,000 patients per year through a network for 43,000 care providers in 40 states.
Humana hopes to close on the deal by Sept. 30 and add Kindred at Home to its Home Solutions business. Th firm said it’s been working with Kindred at Home on efforts to provide comprehensive, home-based care, through a program that offers access to hospital-level care as well as basic home care services.
Owning all of Kindred Health should help Humana develop that program more quickly, Humana said.
Humana plans to keep a minority stake in the Kindred at Home hospice and community care business but to sell a majority stake to outside parties.