Frank Gates Companies and Attenta Merge
March 5, 2007 – The Frank Gates Companies and Attenta announced today the two national risk management service companies have merged. With 61 and 42 years in the industry respectively, the combined company has 100+ years of experience in risk management.
“Our combined senior management leadership at these two companies has extraordinary, long-term market knowledge and insight,” said Frank Vidrik, newly named President and CEO of the merged company, formerly President of Attenta. “Our expertise, exclusive technology and innovative, outcome-based service delivery model will create superior value for our clients.”
The Frank Gates Companies, based in Columbus, Ohio, employs over 500 associates in 38 offices serving 50 states. For 61 years, Frank Gates has provided risk management consulting and cost-control programs in the areas of workers’ compensation, auto/general liability and property claims, alternative risk financing, captive services and risk management software.
Attenta, based in Birmingham, Alabama, provides claims administration, self-insured group management, excess coverage marketing and brokerage, auditing, underwriting, loss control, medical cost containment and risk management information services. In its 42nd year, Attenta employs 200 associates and has 10 offices serving the Southwestern and Southeastern states.
Both companies will continue to focus on their valued core client base which includes self-insured groups (SIGs) and group rated, self-insured and insured employers.
“We are excited about the synergies created by bringing these two companies together,” said Niles C. Overly, Chairman of the newly merged company, formerly Chairman and CEO of The Frank Gates Companies, Inc. “Their combined strengths create a platform on which we plan to build the industry’s leading risk and claims management enterprise.”
Combining Attenta and Frank Gates creates a truly integrated full service risk management solutions provider with enhanced national capacity. Together, the companies will offer:
An industry-leading technology and client services platform
National claims administration for all lines of business including workers’ compensation and liability
A full suite of in-house managed care capabilities
Self-insured group (SIG) management services
Offshore captive services
Self-insured and large deductible programs
Maritime claims management services
Workers’ compensation-focused provider and specialty networks
Loss control and other safety services
The merged companies will offer an outcome-based technology platform focused on early medical intervention and aggressive claim management for self-insured and insured employers, public entities and carriers.
By utilizing the combined company’s fully integrated technology platform, Attenta and Frank Gates adjusters will spend more time on critical claims settlement and resolution tasks and minimize clerical and administrative functions. The claims management process will include centralized claim intake, triage, coding and imaging. This new process integrates and standardizes medical, indemnity and other claims data for the entire life of a claim, from injury through outcome management.
By using tailored injury evaluation methodologies, specialized networks and more progressive medical treatment plans, employers and their injured workers will see faster injury determinations, more aggressive medical treatment and faster return-to-work, allowing customers to reduce overall risk management costs..
“Our newly combined company will fill a growing gap in the current third party administration (TPA) market for clients seeking an outcome-driven claims process and a seamless service standard,” Vidrik explained. “Currently, risk managers do not have the option of a single source capable of managing the entire spectrum of risk management, TPA and medical management. We are committed to filling that niche for a high performance claims organization, focused on service excellence.”
The merger of the two companies was facilitated by KRG Capital Partners, L.L.C., a Denver, Colorado based private equity firm. KRG Capital Partners, together with the management teams of Attenta and Frank Gates, will have a controlling interest in the new combined company.
For additional information, visit the Frank Gates website at www.frankgates.com, the Attenta website at www.attenta.com and the KRG Capital website at www.KRGCapital.com.