ALPHA Fund, a joint powers authority and self-insured workers’ compensation program, and BETA Healthcare Group Risk Management Authority have approved the merger between ALPHA and BETA Risk Management Authority (BETARMA), which would be effective January 2017.
The combined entity will continue to be named BETA Risk Management Authority, or BETARMA. Both organizations are based in California and provide insurance, risk management and loss prevention products and services.
“As we look at the changing landscape of healthcare, the consolidation of providers and insurers, and the struggles facing local community and rural hospitals and clinics, ALPHA and BETARMA believe they are stronger together serving the insurance and risk management needs of the healthcare industry,” said Dave McGhee, chief executive officer of ALPHA.
With a broader membership base, the consolidated organization will be better positioned to serve its members despite the mergers and consolidations occurring in the healthcare industry that are shrinking the pool of prospective members, ALPHA noted in the press release.
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