Argus was founded by its President and CEO Nicholas M. Kavouklis, D.M.D. in 2006. The company services nearly one million dental and vision members, providing benefits management solutions to Medicare Advantage, Medicaid, and Children's Health Insurance Program (CHIP) carriers
Image: Aflac acquires Argus Holdings. Photo: Courtesy of Adam Radosavljevic/Pixabay
Aflac Incorporated announced today that it has completed its acquisition of Florida-based Argus Holdings and its subsidiary Argus Dental & Vision, Inc. (Argus), a premier benefits organization and national network dental and vision company.
“It is an exciting time for Aflac, our customers and our producers. We are thrilled Argus has joined forces with Aflac to advance our vision of being the number one distributor of benefit solutions to the U.S. workforce,” said Teresa L. White, president of Aflac U.S. “Aflac’s expansion into network dental and vision further positions us to offer more choices than ever before.”
Argus was founded by its President and CEO Nicholas M. Kavouklis, D.M.D. in 2006. The company services nearly one million dental and vision members, providing benefits management solutions to Medicare Advantage, Medicaid, and Children’s Health Insurance Program (CHIP) carriers. In addition, the company offers both group and individual network dental and vision insurance plans to employers and individuals. Argus has an established national footprint, serving as a Third-Party Administrator (TPA) in 48 states. Argus will remain under the continued leadership of Dr. Nicholas M. Kavouklis.
As communicated when announced in July 2019, the transaction will not alter Aflac Incorporated’s earnings or capital management outlook for 2019, including share repurchase guidance of $1.3 to $1.7 billion for 2019. The acquisition is not expected to impact Aflac U.S. financial guidance for 2019.
Argus President and CEO Dr. Nicholas M. Kavouklis said: “I’m excited that Tampa, Fla., will be the home for the new Aflac U.S. Network Dental and Vision platform. We are enthused to join the Aflac family and look forward to growing the Aflac U.S. Network Dental and Vision business.”
Richard L. Williams Jr., executive vice president and chief distribution officer of Aflac U.S., added, “Aflac was founded on the straightforward principle of helping provide our policyholders with financial protection and solutions that benefit their lives. The expansion of Aflac’s product portfolio into network dental and vision moves us to the front page of the benefit enrollment process for employees. From there, we believe Aflac’s powerful brand and wide-reaching distribution will boost our access and opportunities to provide more solutions to producers and policyholders.”
Source: Company Press Release