International Medical Group, Inc.
Update: Thursday, 12 November 2015
BOSTON, Nov. 3, 2015 (GLOBE NEWSWIRE) -- ABRY Partners ("ABRY"), a Boston-based private equity firm, has completed the previously announced acquisition of International Medical Group (IMG), a leader in the global insurance and assistance services market.
Brent Stone, partner at ABRY, said, "We are proud to welcome IMG into the ABRY family. Its outstanding leadership, sustained growth and reputation for excellence position IMG as the top player among its competitors. With our shared vision and values, we look forward to continuing our partnership and further expanding IMG's global presence."
IMG's executive management team, Board of Directors and previous private equity partners — Altaris Capital Partners and Galen Partners — approved the acquisition. The company's operations were not impacted by the ownership change.
IMG President and CEO Brian Barwick said, "We are excited to partner with ABRY, whose solid financial foundation and decades of experience investing in high-quality companies will provide the support necessary to drive additional expansion."
Greenhill, a leading independent investment bank, facilitated the acquisition. Terms of the transaction were not disclosed.
About ABRY Partners
Founded in 1989 and headquartered in Boston, Massachusetts, ABRY Partners is an experienced and successful private equity investment firm focused on media, communications, insurance, business and information services. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties.
About International Medical Group, Inc.
For more than 25 years, International Medical Group — headquartered in Indianapolis, Indiana, U.S.A. — has provided global benefits and assistance services to millions of members almost every country. We're committed to being there with our members wherever they may be in the world, helping to deliver Global Peace of Mind. With 24/7 medical management services, multilingual claims administrators and highly trained customer service professionals, IMG is confident in its ability to provide the products international members need, backed by the services they want. IMG's global family of companies includes Akeso Care Management, IMG Europe Ltd., IMG-Stop LossSM, Global Response Ltd., iTravelInsured and International Medical Administrators, Inc.