Curi Holdings, Inc. and Constellation, Inc., two of the nation’s leading providers of medical professional liability (MPL) insurance, have signed an agreement to merge.
Curi CEO Jason Sandner will remain CEO of Curi Holdings, Inc. Constellation President & CEO Ryan Crawford will serve as CEO of the merged insurance business. The ten directors serving on each company’s board at closing will come together in equal representation to govern the merged organization.
Combined, the two organizations will build on their legacies of mutual ownership, client service, and innovation while creating a national brand that seamlessly delivers the products, services, and valued advice that healthcare providers need to thrive in a rapidly evolving landscape.
The merger is expected to close in the second half of 2023. Following the merger, the insurance company subsidiaries of Curi and Constellation will continue to operate under the consolidated mutual holding company, such that the policies held by their insureds will remain in force.
With more than $2 billion of consolidated assets and generating nearly $400 million in revenue, the merged company will serve more than 50,000 physicians, healthcare providers, and organizations across the U.S. The combination, with minimal geographic overlap between the two companies, positions the merged organization to continue meeting its member-owners wherever they are in their evolutionary journey.
“Trends in the healthcare industry over the last decade call for partners who can deliver services to healthcare providers at a national scale and in a more diversified way,” Sandner said. “Curi expects to be that partner, and this merger allows us to continue fulfilling our mission for another 50 years and beyond.”
Recent investments in complementary service lines, such as wealth management, industry analytics, and technology platforms, have also strengthened both companies’ portfolios, positioning them as leaders in the MPL space and beyond.
“This merger represents the joining of two like-minded companies, both with a vision to provide superior products and services to healthcare providers and organizations across the nation,” said Constellation President & CEO Ryan Crawford.
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