MCMC Acquires Country-Wide.
Country-Wide, founded in 1992, serves primarily the no-fault and bodily injury insurance markets in New York. The acquisition of Country-Wide enhances MCMC's position as a leading provider of independent information for health care decision-making and quality improvement.
"We're excited about adding Country-Wide to our existing offerings for the health care industry and consumers. This transaction integrates two complementary sets of products and enhances our ability to offer a comprehensive range of services to our clients. It also positions MCMC for future growth as the leading provider of independent medical examinations," explained Peter Goldschmidt, MCMC Chief Executive Officer.
"I welcome the opportunity for Country-Wide to become a member of the MCMC team. I believe our combined resources and expertise will enable us to deliver even better service to our clients," said Tony Riccardi, Chief Operating Officer of Country-Wide Independent Exams, LLC.
MCMC LLC provides independent health information, and is the largest multi-line provider of independent medical reviews. Each year, MCMC completes about 80,000 medical evaluations for the company's more than 600 corporate clients. The company's combined panels of medical specialists, including over 4,000 Country-Wide credentialed medical specialists, exceeds 5,000 credentialed practitioners and other experts. MCMC provides case reviews and examinations in all domains of medicine, for all levels of technology and for all age groups. In October, 2002, MCMC acquired the Medical Care Ombudsman Program of Medical Care Management Corporation (MCOP) and the Peer Review Analysis division of CORE, INC (PRA). MCOP, established in 1992, provides independent, cost-effective expert analysis of complex and contentious medical cases. PRA, established in 1984, is one of the nation's largest independent review organizations servicing the health care, pharmaceutical, workers compensation, and disability markets. Principal investors in and/or financing sources for MCMC include Alliance Mezzanine Investors (http://www.mezcap.com/), Brown Brothers Harriman (http://www.bbh.com/), Evergreen Capital Advisors, Mercantile-Safe Deposit & Trust Co (http://www.merctrust.com/), Meridian Venture Partners (http://www.meridian-venture.com/), Spring Capital Partners (http://www.springcap.com/), and Theo Capital (http://www.theocap.com/).
Country-Wide Medical Exams, LLC, a wholly-owned subsidiary of MCMC LLC, is a national provider of independent medical examinations, peer reviews (including radiology reviews), bill auditing, and related services. Country-Wide has more than 4,000 credentialed medical specialists, including board-certified medical practitioners and such other licensed providers as chiropractors, dentists, podiatrists, and psychologists. Country-Wide distinguishes itself in the market place by meeting or exceeding clients' service expectations.
CONTACT: Rick Riekert or Tony Riccardi, both for MCMC LLC, +1-516-764-2500
Web Site: http://www.mcman.com/ http://www.ctrywide.com/
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|Date:||Dec 11, 2003|
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