|
|||||||||||||||||
NEWS
|
TRIDENT IV, L.P. TO PURCHASE GENEX SERVICES, INC. FROM UNUMPROVIDENT CORPORATION Wayne, PA, January 24, 2007 – Trident IV, L.P. (Trident IV) and UnumProvident Corporation (Unum) have signed a definitive stock purchase agreement for Trident IV to acquire 100% of GENEX Services, Inc. (GENEX), a wholly owned subsidiary of Unum. Trident IV is a private equity fund managed by Stone Point Capital LLC. The transaction is expected to close in the first half of 2007. GENEX provides its clients with a broad array of managed care solutions and information management capabilities through its 2,000 employees and more than 100 service locations throughout North America. The company has a demonstrated ability to help clients manage and control the medical, wage loss, and productivity costs associated with claims in the worker’s compensation, disability, automobile, and health care systems. GENEX services include utilization management, case management, medical bill review, preferred provider organizations, Social Security representation, information management and related capabilities. “We are exceptionally pleased to partner with Stone Point Capital” said GENEX President and Chief Executive Officer, Peter Madeja. “Stone Point Capital is a recognized leader in the private equity markets, and shares our orientation toward long-term relationships with employees, customers, and business partners.” Charles A. Davis, CEO of Stone Point Capital, said, "We are very excited about the opportunity to partner with Peter Madeja and the talented management team of GENEX. We have developed a strong relationship with Peter over a number of years, and now look forward to the opportunity to support GENEX as the company continues to build upon its long history of success." Stone Point Capital is a global private equity firm that manages the Trident Funds and has raised more than $8 billion in committed capital to make investments in the global insurance and financial services industries. ### Contact Information: Peter Madeja |
||||||||||||||||
