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Two of the nation’s largest health insurance marketing companies - AIMC, a distributor of Medicare supplement products, and Texas-based Integrity Marketing Group - have announced merger to further strengthen their position in the senior market.
The combined business will create the nation’s leading independent distributor of life and health insurance products in the senior market, according to the statement.
It will be headquartered in Dallas, Texas with multiple locations including Atlanta, Georgia, Norfolk, Nebraska and La Crosse, Wisconsin.
As part of the deal, AIMC’s owners will become shareholders in Integrity. The combined company will produce over $650 million in annualized premiums.
"Integrating these two powerhouses creates an opportunity for everyone involved to do something very special, because the whole is definitely greater than sum of its parts," said Mike White, chairman and CEO of AIMC.
"It’s very rare to have two high-growth companies like AIMC and Integrity join to create a transformational organization," added Bryan Adams, managing partner of Integrity. [...] By combining the businesses, we have strengthened our position in serving the ever-expanding Senior Market,” continued Adams.
Steve Young, co-founder of HGGC and chairman of Integrity, commented: "HGGC invested in Integrity with the intent of identifying similar market leaders to join the platform, and AIMC — the undisputed leader in the Medicare Supplement market — is the perfect business for this strategy.
"This transaction positions us well to continue adding pillars that will further strengthen Integrity’s leadership position in the senior market."
AIMC, M&A, Medicare, Integrity Marketing Group, Texas, US