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Integrity Marketing Acquires Plan Advisors: Deals

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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.

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.

More on this topic

Sun Life Financial Inc. has agreed to acquire PinnacleCare International Inc., a medical information and health care navigation services provider.

PinnacleCare is based in Baltimore and has about 170 employees. It helps patients get advice from doctors about how to handle sudden, serious illnesses. The company has relationships with 2 million people through individual subscriptions and contracts with employers.

Sun Life, which is based in Toronto and has its U.S. headquarters in Wellesley Hills, Massachusetts,  says it hopes to close on the deal by mid-year, then make PinnacleCare part of its U.S. Stop-Loss & Health business.

Insurance Technologies LLC has acquired IXN.

Insurance Technologies is a Colorado Springs, Colorado-based company that develops sales software for life and annuity issuers. IXN is a Lehi, Utah-based company that provides digital data exchange services for life insurers. One of its products is the new LifeDX data exchange system.

Funds managed by Stone Point Capital are joining with GIC, Singapore’s sovereign wealth fund, in an effort to acquire Ascensus from the private equity firm group that owns it now.

Ascensus is a retirement and savings plan administrator based in Dresher, Pennsylvania.

The current owners are Genstar Capital, Aquiline Capital Partners and Atlas Merchant Capital.

Stone Point Capital and GIC hope to close on the acquisition by Sept. 30.

PrimePay, a payroll and benefits firm based in West Chester, Pennsylvania, is acquiring SyncHR, a human resources, payroll and benefits management software firm based in Denver.

Pam Glick, the SyncHR CEO, will become PrimePay’s chief marketing officer.

(Image: Sergey Nivens/Shutterstock)