December 12, 2019 by Jason Contant
Lifemark Health Group (LHG) has acquired AssessMed, an independent medical examination services provider for auto insurers, as part of its strategy to diversify its medical assessment services across Canada.
In particular, the acquisition allows LHG to broaden its assessment expertise in the medical legal community and expand its footprint in Quebec, LHG said in a press release.
“As it is well-established in the markets it serves, AssessMed will continue to operate under its current name and leadership structure, with all roles and responsibilities remaining the same,” LHG reported. Mississauga, Ont.-based AssessMed’s clients include auto insurers, personal injury law firms (plaintiff or defence), life and health disability insurers, Canadian provincial workers’ compensation boards, the medical legal community, municipal employers and corporate employers.
“There will be no disruption to customer service or operating procedures as a result of this acquisition,” added AssessMed president Don Kunkel in a blog posting Dec. 2. “The LHG senior management team is highly experienced within the insurance industry, and they will provide AssessMed with increased levels of operational support that will allow AssessMed to further enrichen its customer service platform across its national footprint.”
As one of Canada’s largest and most comprehensive healthcare service providers, Toronto-headquartered LHG provides medical assessment, community rehabilitation and workplace health and wellness services. LHG has over 5,000 clinicians and medical experts in more than 225 locations coast-to-coast.
Bailey Southwell & Co., a Nashville, Tenn.-based healthcare and tech-enabled services investment bank, acted as exclusive financial advisor to AssessMed in its sale to LHG, a portfolio company of Audax Private Equity.