FOR IMMEDIATE RELEASE: 4/1/2024
Ethos Acquires Claims Eval
St. Petersburg, FL – Ethos Risk Services, a leading provider of claims investigation and medical management services, proudly announces the acquisition of Claims Eval, a nationally recognized provider of Peer and Utilization Review Services catering to the Workers’ Compensation, Disability, Group Health, and Behavioral Health markets. The investment solidifies Ethos’ commitment to enhancing its service portfolio and fortifying its position in the market.
Claims Eval is accredited by the Utilization Review Accreditation Commission (URAC), and holds Comprehensive Independent Review Organization (IRO) and Work Comp Utilization Management (WCUM) certificates, underscoring its commitment to quality and excellence.
"We are thrilled to welcome Claims Eval into the Ethos’ family," said Micah Smith, CEO of Ethos. "Their stellar reputation and proven track record in delivering top-tier peer and utilization review services align perfectly with our mission to provide unmatched value to our clients."
With multiple state licensures enabling external IRO reviews, Claims Eval boasts a robust physician network comprising over 1200 board-certified physicians across diverse specialties nationwide. Their proprietary web-based software ensures seamless case management, providing clients and physicians with a user-friendly platform for efficient collaboration and decision-making.
"The integration of Claims Eval’s capabilities into Ethos’ existing framework marks a significant milestone in our journey," remarked Michael Hamby, CEO of Claims Eval. "This strategic move empowers us to deliver even greater value to our clients, offering unparalleled expertise and resources to address their evolving needs."
Claims Eval’s commitment to data security and redundancy, including compliance with HiTrust, SOC2, ISO27001, HIPAA, and SAS70 standards, further strengthens Ethos’ operational resilience and continuity planning.
"We are excited about the opportunities this acquisition brings," stated Smith. "Together, we are poised to set new standards of excellence in our industry, driving innovation and delivering exceptional outcomes for our clients."
The adoption of Claims Eval underscores Ethos’ dedication to innovation, excellence, and client satisfaction, further cementing its position as a leader in the medical claims management sector.
This is Ethos’ tenth acquisition since 2019, following the integrations of Winston Services, Independent Research Group, Novare, HUB Enterprises, Western Limited, Combined Investigators, Inc., SIU Management LLC, and Summit Investigations.
Bailey & Company served as the exclusive strategic and financial advisor to Claims Eval on the transaction.
About Ethos Risk Services:
Ethos is a full-service claims investigation and medical management firm headquartered in St. Petersburg, Florida. Ethos provides nationwide and international coverage servicing all 50 states and over 75 countries. Founded in 2006, the company has provided comprehensive fraud and medical claims management to insurance companies, self-insured employers, attorneys, and third-party administrators. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric claims services company. With a commitment to providing better data, Ethos empowers clients to make better decisions that bring optimal outcomes. For more information, visit www.ethosrisk.com
About Claims Eval:
Since 2004, this Rocklin, California based provider of Peer and Utilization Review services has earned nationwide acclaim for its expertise in utilizing evidence-based guidelines to deliver decisions across various sectors, including carriers, third-party administrators, managed care organizations, and self-insured employers. Their focus on quality, timeliness of responses and defensible evidence-based decisions drives their mission to provide premium services in the ever-evolving environment of state and federal requirements. Learn more at www.claimseval.com.
About Bailey & Company:
Bailey & Company is a Nashville based merchant banking platform focused on growth and late-stage healthcare and technology companies. Through the firm’s M&A advisory and strategic fund businesses, Bailey supports strong management teams that have built scalable platforms by providing strategic insights, world class advice, and access to one of the most diverse networks of industry experts. Since their founding, their senior bankers have closed over 200 transactions representing more than $15B in value. For more information about Bailey & Company, please visit www.bnco.com.
For media inquiries, please contact: Mike Lundgren – 727-231-4757
FOR IMMEDIATE RELEASE: 5/1/2023
Ethos Risk Services Acquires Review Med
St. Petersburg, FL – Ethos Risk Services announced today the acquisition of Review Med. Terms of the agreement were not disclosed.
Review Med was established in 1994 and provides bill review, medical and vocational case management and return-to-work programs, early intervention services, medical record reviews, pre-authorization, and pre-certification. Founded on integrity, quality, and service expertise Review Med has used advancing technologies to chart a respected path within their field. Headquartered in Dallas, Texas Review Med has built as strong reputation for Workers’ Compensation and Liability Claims.
“We are thrilled to be joining Ethos, a company we know has strong technology-driven capabilities” they said. “Ethos has a long tradition of excellence in delivering optimal results for their clients and we are excited to contribute to that mission.”
There will be no disruption to customers as Ethos will absorb and integrate the services and personnel as they have done in previous acquisitions. This adds strength to the already established base of medical management within Ethos and accelerates the awareness of this expertise.
“Review Med is a solid and reputable company and will help us continue expanding the depth of our service offerings in the medical claim management space,” offered Micah Smith, CEO of Ethos. “We expect great things from this acquisition and know our clients will continue to receive the highest quality results for their medical claim needs.”
This is Ethos’ ninth acquisition since 2019, following the integrations of Winston Services, Independent Research Group, Novare, HUB Enterprises, Western Limited, Combined Investigators, Inc., SIU Management LLC, and Summit Investigations.
FOR IMMEDIATE RELEASE: 3/1/2023
Ethos Risk Services Acquires Winston Services
St. Petersburg, FL – Ethos Risk Services announced today the acquisition of Winston Services. Terms of the agreement were not disclosed.
Since 1994, Winston Services has grown into a premium investigation service company that operates over a multi-state region. Based in Norman, OK, Winston Services specializes in Workers’ Compensation claim investigations by working with a wide assortment of major insurance companies, third-party administrators and self-insured employers. Their reputation is based on their approach of honesty, integrity, excellence and determination to provide optimal outcomes for every client.
“Winston Services embodies many of the same qualities of high-level investigation capabilities and results oriented processes that Ethos provides,” said Ethos Risk Services CEO, Micah Smith. “This acquisition will ensure we continue to provide the highest quality solutions our customers have come to expect. We are excited to expand our nationwide coverage even further.”
The transition will be seamless for clients while processes, systems and staff are fully integrated, according to Smith. Once completed, it will result in improved coverage, best-in-class technology and analytics, and a shared commitment to continue delivering the best customer service in the industry.
“We are elated to continue the long tradition of top-notch investigations as part of the growing Ethos brand,” said Robert Cox, owner of Winston Services. “Ethos is a proven leader in this space and by joining forces we know the solutions and technical capabilities available to our clients will be unmatched.”
This is Ethos’ eighth acquisition since 2019, following the integrations of Independent Research Group, Novare, HUB Enterprises, Western Limited, Combined Investigators, Inc., SIU Management LLC, and Summit Investigations.
FOR IMMEDIATE RELEASE: 8/31/2022
Ethos Risk Services Acquires Independent Research Group, Inc.
St. Petersburg, FL – Ethos Risk Services announced today the acquisition of Independent Research Group, Inc. Terms of the agreement were not disclosed.
IRG provides a full range of investigative services for a variety of clients. Based in Lansdale, PA, IRG has operated since 1983 and is led by a team of industry experts. Their specialized investigative unit primarily focuses on multi-million dollar exposure claims.
“IRG is an impressive organization with the same results-driven approach to investigations as Ethos,” said Ethos Risk Services CEO, Micah Smith. “Their personalized customer-centric approach aligns perfectly with Ethos’ values. This acquisition further strengthens our service offerings and coverage throughout the Northeast.”
The transition will be seamless for clients while processes, systems and staff are fully integrated, according to Smith. Once completed, it will result in improved coverage, best-in-class technology and analytics, and a shared commitment to continue delivering the best customer service in the industry.
“It’s exciting to join the Ethos team,” said Mike Kucenic, owner of IRG. “Their national coverage, technology, data security, and focus on customer service will provide many benefits to our customers’ experience and further enhance our work product.”
This is Ethos’ seventh acquisition since 2019, following the integrations of Novare, HUB Enterprises, Western Limited, Combined Investigators, Inc., SIU Management LLC, and Summit Investigations.
About Ethos Risk Services, LLC
Ethos is a full-service risk mitigation firm headquartered in St. Petersburg, Florida. Ethos provides nationwide and international coverage from a team of over 1000 investigators servicing all 50 states and over 75 countries. Founded in 2006, the company has provided comprehensive fraud management to insurance companies, self-insured employers, attorneys, and third-party administrators within the insurance industry. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric claims services company and to build a partnership with their clients in combating fraud across the globe. For more information about Ethos Risk Services, please visit their company website at www.ethosrisk.com.
About Independent Research Group, Inc.
Since 1983, IRG, a Lansdale, PA, investigative firm, has serviced insurance carriers, law firms, third-party administrators and employers. Their goal is to deliver best-in-class results by utilizing experienced investigators, innovative technology and strategic investigative techniques. Their results, customer service and personalization provide customers with a product that is second to none.
FOR IMMEDIATE RELEASE: 7/29/2022
Ethos Risk Services Acquires Novare
St. Petersburg, FL – Ethos Risk Services LLC, a leading risk mitigation company, announced the recent acquisition of Novare. Terms of the agreement were not disclosed. Novare, a division of Ethos, is a full-service workers’ compensation medical cost containment company specializing in medical and vocational case management, independent medical exams, utilization management, medical bill review, and Medicare secondary payor services. Based out of Madisonville, LA, Novare is a vital link in the supply chain of workers’ compensation medical cost containment, adding value with efficient and cost-effective solutions.
“We are very excited to be working with Novare; their mission to provide personalized, efficient, cost-conscious services aligns well with Ethos,” said Ethos Risk Services CEO Micah Smith. “This acquisition is another step in our long-term, strategic growth plans and we’re looking forward to the value we can create for our collective clients by opening up our shared full-suite of services.”
The transition will be seamless for clients while processes, systems and staff are fully integrated. Once completed, it will result in improved coverage, best-in-class technology and analytics, and a shared commitment to continue delivering the best customer service in the industry.
“It’s exciting to join forces with Ethos,” said Paul Jaquillard, owner of Novare. “Their technology, national coverage, data security, and commitment to customer service are in a class of their own and will add more value for our customers. We are eager to bring Ethos’ data-driven approach to investigations to our clients and believe that our collective broader skill-sets will further strengthen our work product.”
This is Ethos’ sixth acquisition since 2019, following the successful integrations of HUB Enterprises, Western Limited, Combined Investigators, Inc., SIU Management LLC, and Summit Investigations.
Bailey & Company served as the exclusive strategic and financial advisor to Novare on the transaction.
About Ethos Risk Services, LLC
Ethos is a full-service risk mitigation firm headquartered in St. Petersburg, Florida. Ethos provides nationwide and international coverage from a team of over 1000 investigators servicing all 50 states and over 75 countries. Founded in 2006, the company has provided comprehensive fraud management to insurance companies, self-insured employers, attorneys, and third-party administrators within the insurance industry. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric claims services company and to build a partnership with their clients in combating fraud across the globe. For more information about Ethos Risk Services, please visit their company website at www.ethosrisk.com.
About Novare
Since 2001, Novare, a Madisonville, LA firm has serviced insurance carriers, third-party administrators, and employers. Novare has focused on the growing needs of employers and the insurance community seeking effective and responsible medical management services for injured workers. Their mission is to deliver personalized representation and efficient, cost-conscious services with an emphasis on optimum medical outcomes. For more information about Novare, please visit their company website at www.novarenetwork.com.
About Bailey & Company
Bailey & Company is a Nashville based merchant banking platform focused on growth and late-stage healthcare and technology companies. Through the firm’s M&A advisory and strategic fund businesses, Bailey supports strong management teams that have built scalable platforms by providing strategic insights, world class advice, and access to one of the most diverse networks of industry experts. Since our founding, our senior bankers have closed over 200 transactions representing more than $15B in value. For more information about Bailey & Company, please visit their company website at www.bnco.com.
FOR IMMEDIATE RELEASE: 8/5/2021
HUB Enterprises and Ethos Risk Services Join Forces
St. Petersburg, FL – Carousel Capital (“Carousel”) announced today that it has invested in Hub Enterprises, Inc. (“Hub”), which is to be combined with an existing portfolio company of its fifth fund, Ethos Risk Services, LLC (“Ethos”).
Based in Broussard, Louisiana, Hub is one of the industry’s leading providers of security and insurance defense investigations, servicing a national client base of insurance carriers, corporations, and governmental entities. Founded in 1966 and privately held by the Company’s second-generation President, James H. “Chip” Romero, Hub is distinguished within the security and insurance defense investigation industry with a long-established reputation for customer service, integrity, and professionalism.
When these two-business come together the complementary strengths will provide its national client base with the industry’s leading portfolio of fraud and risk mitigation solutions. Carousel believes that the combined organization will be better positioned to drive accelerated growth in the future as a result of the added talent, longstanding customer relationships, and esteemed industry reputation of Hub.
“We initially began discussions with Chip as part of our direct outreach efforts with founders and CEOs of Southeastern-based services companies prior to our initial partnership with Ethos,” said Peter Clark, a Partner of Carousel. “We continued these conversations following our investment with Ethos and were impressed by the uniquely complementary core competencies of Hub with Ethos, along with their strong management team and close cultural alignment – the combined company is well-positioned to accelerate each organization’s already strong growth trajectories.”
“This is an exciting partnership with far reaching impact for the clients we serve, the industry we represent and our HUB Enterprises associates”, said Chip Romero, HUB Enterprises President. “Chip and his team are pioneers in our industry and share the same vision of providing insurance carriers and other constituents with the most effective, data-driven, fraud and risk mitigation solutions – We are excited to work with them.” said Micah Smith, CEO of Ethos.
FOR IMMEDIATE RELEASE: 8/20/2019
Ethos Risk Services Acquires Summit Investigations
Ethos Takes Next Steps in Growth Strategy
St. Petersburg, FL – Ethos Risk Services LLC, a leading risk mitigation company, announced the recent acquisition of Summit Investigations. The transaction took place on August 14, 2019. Terms of the agreement were not disclosed.
Summit Investigations provides a full range of investigative services for a variety of clients. Based out of Boston, Massachusetts, Summit has been operating since 1998 and led by a team of industry experts. Summit has over 100 investigators which expands Ethos’ network of investigators to over 500.
“Summit is one of those companies in our industry that has a strong reputation for delivering results and putting clients first. As we’ve learned more about their team, we found that the core values our two companies adhere to are very well aligned,” said Ethos Risk Services CEO, Micah Smith. “This acquisition is a great fit and further strengthens our footprint in the northeast along with better coverage and service for our collective clients.”
This acquisition is another step in the long-term, strategic growth plans for Ethos. The transition will be seamless for clients while processes, clients, and staff are fully integrated. Once completed, it will result in further quality of investigator coverage, new products for Summit clients, and a continued commitment to deliver the best customer service. The integration is expected to be completed over the coming weeks.
“I am pleased to be joining the Ethos team. The Ethos philosophy compliments the focus on customer service that our clients have come to expect,” said Summit Investigations President Bob Reynolds. “The opportunity to work with an industry leader is exciting and we look forward to continued growth together.”
This is Ethos’ second acquisition in 2019 following the successful integration of Combined Investigators, Inc. and SIU Management LLC.
About Ethos Risk Services, LLC
Ethos Risk Services is a full-service risk mitigation firm headquartered in St. Petersburg, Florida. Ethos provides nationwide and international coverage from a team of over 500 investigators servicing all 50 states and over 70 countries. Founded in 2006, the company has provided comprehensive fraud management to insurance companies, self-insured employers, attorneys and third-party administrators within the insurance industry. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric investigative services company and to build a partnership with their clients in combating fraud across the globe. For more information about Ethos Risk Services, please visit the company website at www.ethosrisk.com.
About Summit Investigations
Since 1998, Summit Investigations has specialized in serving the insurance industry in 20 states along the eastern coast. They provide a wide array of investigative services through a network of approximately 100 investigators.
To view the press release on PR Newswire click here.
FOR IMMEDIATE RELEASE: 2/5/2019
Ethos Acquires Combined Investigators, Inc and SIU Management, LLC
Strengthens Ethos Growth Strategy
St. Petersburg, FL – Ethos Risk Services LLC, announced today the acquisition of Combined Investigators, Inc. and SIU Management, LLC. The acquired businesses are regional providers of investigative and SIU services for employers, third party administrators and insurance companies throughout the southeast. Integration of the two companies is expected to be completed over the coming months which will result in enhanced geographic footprint and continued commitment to customer service for both companies. Terms of the agreement were not disclosed.
“Over the last several months and years, we have gone through an exhaustive search process to find the right regional competitor to partner with,” said Ethos Risk Services CEO, Micah Smith. “Combined’s presence and reputation in the Eastern U.S. is unmatched; coupled with national and international coverage, along with our range of technology-enabled services, we are now one of the premier investigative solution providers in the U.S. We are very excited to have the incredibly talented team at Combined join our Ethos family; including Bill Tabor, David Collins, and Dee Tabor as recognized industry leaders.”
Combined Investigators’ services and standards of excellence are consistent with those of Ethos Risk Services making this an ideal match for both companies. Combined’s clients will benefit from the enhanced resources and technologies from Ethos along with their full suite of investigative services.
“I am excited to bring together two stellar investigative companies that will provide unparalleled service to our clients and look forward to building relationships that ensure the best possible outcomes in the ongoing battle against fraud,” said David Collins, CEO of Combined Investigators and SIU Management.
This acquisition aligns with long-term, strategic growth plans for Ethos. The transition will be seamless for clients while processes, clients, and staff are fully integrated.
“We are excited to become a part of the commitment and energy within the Ethos team,” said Combined’s President, Bill Tabor. “After years of organic growth in the Eastern U.S., this consolidation allows us to offer our clients a true national presence. This is an exceptional opportunity to provide new and expanded services to our clients.”
About Ethos Risk Services, LLC
Ethos Risk Services (ERS) is a full-service risk mitigation firm headquartered in St. Petersburg, Florida. ERS provides nationwide and international coverage from a team of over 350 investigators servicing all 50 states and over 70 countries. Founded in 2006, the company has provided comprehensive fraud management to insurance companies, self-insured employers, attorneys and third-party administrators within the insurance industry. Ethos is dedicated to its vision of being the most tech-enabled, customer-centric investigative services company and to build a partnership with their clients in combating fraud across the globe. For more information about Ethos Risk Services, please visit the company website at www.ethosrisk.com.
About Combined Investigators, Inc and SIU Management, LLC
Combined Investigators, Inc and SIU Management, LLC has been providing investigative services to the southeast region since 1986. Today the company operates in 19 states, and has performed thousands of investigations utilizing over 60 experienced senior investigators and state of the art technology. SIU Management provides turnkey SIU services for both national and regional providers within the insurance industry.
To view the press release on PRWeb click here.
