San Diego-based Mitchell International Inc. said in a March 14 statement that it had acquired Redondo Beach-based National Health Quest Inc., a provider of negotiated out-of-network payment services related to insurance claims.
Terms of the transaction were not disclosed.
Mitchell provides technology and information services to the property and casualty claims and collision repair industries.
Alex Sun, president and CEO of Mitchell, said in a prepared statement that “the acquisition of NHQ further exemplifies our commitment to key, strategic relationships and investments that enable us to develop and deliver the industry’s leading software and service solutions to the P&C claims market.”
“There is tremendous value that can be delivered to the injury claims handling community via the appropriate integration and use of specialized out-of-network negotiation services within the claims handling value chain,” said J.L. Fersch, Jr. President & Founder of National Health Quest, also in a prepared statement. “Approximately 50 to 70 percent of medical charges are generated by providers who are currently not part of a provider network, and NHQ is the leader in addressing the full spectrum of out-of-network charges, not just large claims.”
Aurora Capital Group, a Los Angeles-based investment group, is Mitchell’s primary owner.