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Medical Mutual Signs Agreement to Acquire Paramount Health

Jan 29, 2024•over 1 year ago

Acquiring Company

Medical Mutual

Acquired Company

Paramount Health Care

ClevelandToledoInsuranceInsurance

Description

Medical Mutual of Ohio has announced its intent to acquire Paramount Health, a Northwest Ohio-based health insurance company owned by ProMedica. This acquisition aligns with the goal of both companies to help people live healthier and strengthens Medical Mutual’s position as a trusted healthcare navigator in Ohio. Paramount will continue to offer high-quality health plans as a wholly owned subsidiary of Medical Mutual.

Company Information

Company

Medical Mutual

Location

Cleveland, Ohio, United States

About

Welcome to the LinkedIn page for Medical Mutual. Founded in 1934, Medical Mutual is the oldest and one of the largest health insurance companies based in Ohio. We provide peace of mind through high-quality health, life, disability, dental, vision and indemnity plans. Medical Mutual offers fully insured and self-funded group coverage, including stop loss, as well as Medicare Advantage, Medicare Supplement and individual plans. We are the parent company to a family of subsidiaries that provide their own unique products and services: https://bit.ly/medmutual-subsidiaries

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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