Two Florida-based heavyweights in insurance investigations have merged part of their operations, creating what they say is now the largest insurance fraud investigation firm in the country.
Command Investigations, based in Lake Mary, Florida, with 900 investigators across all U.S. states, announced it has acquired the insurance investigations division of Jacksonville-headquartered CoventBridge Integrity Systems. CoventBridge, founded in 2016, provides investigative technology and works with 200 carriers, third-party administrators and self-insured companies, the firms said in a news release this week.
Terms of the deal were not disclosed. Brown Gibbons Lang & Co., an investment bank, was the financial advisor in the transaction.
Doug Merriman, CEO of CoventBridge, said his team felt that Command Investigations would be a good partner. It has brought together 10 organizations in recent years to serve carriers and claims managers.
Merriman will continue as CEO of CoventBridge’s remaining divisions, which will focus on government and health care organizations, including health insurance. Seth Markham will head CoventBridge’s insurance division, as part of Command Investigations, the companies said.
Topics Mergers & Acquisitions
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