NASHVILLE, Tennessee (June 2016) — Bailey Southwell & Co., LLC (BSC) is proud to announce the completion of the sale of Med-Eval, Inc. (Med-Eval), a leading provider of independent medical examination (IME) and diagnostic network services for the workers’ compensation and automotive claims market, to Genex Services, LLC (Genex), a leader in medical cost containment and disability management services. Financial terms were not disclosed.
BSC acted as the exclusive strategic and financial advisor to Med-Eval.
By providing an extensive national network of board-certified medical examiners and leveraging a refined workflow that handles all administrative tasks from referral to report delivery, Med-Eval is one of the few IME providers with the scale and infrastructure to offer the geographic scope and high service quality required by leading insurance carriers, third-party administrators (TPAs), employers, and other organizations that need assistance with medical review services. With this acquisition, Genex will deliver an expanded national IME network backed by a high level of service quality and exceptional customer service to a marketplace desiring national IME options with a strong focus on cost containment and quality care.
“Bailey Southwell’s ability to maximize the value of a workers’ comp / managed care firm given industry trends was essential to identifying the best way to provide an attractive exit opportunity for our shareholders and placing the Med-Eval brand in an excellent position for future growth,” noted Mike Valasek, President and CEO of Med-Eval. “I would highly recommend that owners of industry firms begin a dialog with the professionals at Bailey Southwell.”
About Bailey Southwell & Co., LLC
Bailey Southwell & Co., founded in 2005, is a privately held investment bank with offices in Nashville, Tennessee and St. Louis, Missouri. BSC provides mergers and acquisition and capital raising advisory services to middle market companies. More information about BSC can be found at www.baileysouthwell.com.
About Med-Eval, Inc.
Med-Eval is a leading provider of medical evaluative services and discounted medical imaging for the workers’ compensation, automobile, general liability, and non-occupational disability claims industries. Founded in 1994, Med-Eval specializes in the recruitment and credentialing of providers, scheduling and reporting on medical evaluations, peer reviews, and diagnostic studies for insurance carriers, TPAs, employers, and attorneys. More information about Med-Eval can be found at www.med-eval.com.
About Genex Services, LLC
Genex Services is the trusted provider of managed care services enabling workers’ compensation payers and risk managers to transform their bottom lines. Genex is a managed care leader with more than 2,900 employees and 47 service locations throughout North America. The company serves 381 of the Fortune 500 companies as well as the top workers’ compensation and disability carriers and third-party administrators in the U.S. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. More information about Genex can be found at www.genexservices.com.