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Mitchell Announces Acquisition of National Health Quest, Inc.Purchase of Premier Out-of-Network Negotiation Provider Broadens Mitchell's Capabilities to Help Payers Manage Injury Costs and Deliver More Value to Injured Parties (March 14, 2012)
SAN DIEGO, CA -- (Marketwire) -- 03/14/12 -- Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) claims and Collision Repair industries, today announced the acquisition of National Health Quest, Inc. (NHQ), a national best-in-class provider of negotiated out-of-network payment services. This acquisition expands Mitchell's already robust capabilities in injury claims medical cost management and will enable Mitchell clients to deliver even higher levels of efficient, cost-effective and service-sensitive claims handling to their customers. The terms of the transaction were not disclosed.
"Mitchell is focused on providing solutions that produce measurably better outcomes for our clients," said Alex Sun, President and CEO of Mitchell. "The acquisition of NHQ further exemplifies our commitment to key, strategic relationships and investments that enable us to develop and deliver the industry's leading software and service solutions to the P&C claims market. We are excited to extend Mitchell NHQ Negotiation Services to our auto casualty and workers' compensation customers."
"There is tremendous value that can be delivered to the injury claims handling community via the appropriate integration and use of specialized out-of-network negotiation services within the claims handling value chain," said J.L. Fersch, Jr. President & Founder of National Health Quest. "Approximately 50-70% of medical charges are generated by providers who are currently not part of a provider network, and NHQ is the leader in addressing the full spectrum of out-of-network charges, not just large claims. The combination of Mitchell's focus on quality provider networks and NHQ's strength in its broad application of negotiation services will further enable injury claims professionals to achieve their primary goal of delivering excellent medical care in the most cost-effective manner to ensure maximum policy benefit for injured parties."
The acquisition of NHQ provides for the expansion of out-of-network negotiation service capabilities to Mitchell clients. In addition to employing NHQ's negotiation solutions, Mitchell will maintain relationships with other out-of-network negotiation service providers in order to offer Mitchell clients the service options that are best suited to their needs. Mitchell has no plans to change its relationships with any of its out-of-network negotiation service partners.
J.L. Fersch, Jr. joins Mitchell as Founder of NHQ and will continue to lead its operations in Redondo Beach, CA. NHQ will become a division of Mitchell. For more information, please visit www.mitchell.com.
About National Health Quest, Inc.
National Health Quest (NHQ) has been representing major national insurance carriers, employers, self-insured employers groups, TPA's, consultants and brokers for over two decades. Since inception, NHQ has continued its tradition of leadership in the national Healthcare Cost Containment arena by setting high standards of integrity for others to follow. NHQ invites you to visit www.nhqinc.com.
Mitchell empowers clients to achieve measurably better outcomes. Providing unparalleled breadth of technology, connectivity and information solutions to the Property & Casualty claims and Collision Repair industries, Mitchell is uniquely able to simplify and accelerate the claims management and collision repair processes. As a leading provider of Property & Casualty claims technology solutions, Mitchell processes over 50 million transactions annually for over 300 insurance companies/claims payers and over 30,000 collision repair facilities throughout North America. Founded in 1946, Mitchell is headquartered in San Diego, California and has 1,700 employees. The company is privately owned primarily by Aurora Capital Group, a Los Angeles-based investment group. For more information about Mitchell, visit www.mitchell.com.
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