York Risk Services Group, a New Jersey-based provider of claims-management services, has acquired Avizent, a Ohio-based third party administrator.
Avizent, which has more than 50 locations, provides claims management services, managed care services, alternative risk financing options and a variety of loss control services to clients ranging from public entities, self-insured clients and carriers.
The acquisition leverages the strengths of both companies to improve the quality of the services offered.
York Risk Services Group president and CEO Tony Galioto said that bringing these two companies together will give their customers a suite of risk management and insurance services backed by outstanding service and the ability to deliver to measurable results.
Avizent president and CEO Thomas Watson said that the natural synergies between the companies will allow them to provide customers with even better claims management solutions across all states and all lines of business.
Financial terms of the acquisition were not disclosed.