Insurance Capital Management USA Inc. has completed efforts to take over Precis Inc. by having Precis acquire it.
Although Precis, Grand Prairie, Texas, technically was the acquirer, ICM, Dallas, gained management control over Precis and has changed its name to Access Plans USA Inc., Dallas, according to executives at Access Plans.
Precis shareholders approved the transaction Wednesday.
Shares of Access Plans now trade on the Nasdaq Capital Markets under the symbol AUSA.
Peter Nauert, the head of ICM, is now the chairman, president and chief executive officer of Access Plans.
Nauert may be best known as a former chief executive of Ceres Group Inc., Cleveland, a health insurer. Nauert left Ceres in 2004.
Precis sold health discount programs.
Access Plans now sells health discount programs, and it also sells individual and family health insurance plans, benefit plan administration services, network management services and utilization management services, Access Plans says.
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