The merger between ALPHA Fund, a California joint powers authority and self-insured workers’ compensation program, and BETA Healthcare Group Risk Management Authority, a California joint powers authority and self-insured healthcare professional liability program, has been completed.
The surviving entity, BETARMA, will now provide workers’ compensation coverage to the healthcare industry, in addition to the liability coverages it already provides to public and non-profit hospitals and healthcare facilities.
BETA said the merger adds to its already large membership base of hospitals and healthcare facilities, gains a fourth office to better serve its members, adds a new line of coverage and realizes an immediate significant increase in its net position.
“Although we still have a lot of work to do in order to fully integrate the two organizations, the most important functions have been integrated and we fully expect to maintain the same high quality level of products and services to our members for which we have become known,” said Tom Wander, CEO of BETARMA. “We are excited about the opportunities the combined organization provides us going forward.”
ALPHA Fund, BETA Healthcare Group, Merger, North America