Genex Services Acquires Medical Bill Review Leader Alpha Review Corporation

Agreement pairs specialized managed care leaders in workers’ comp

WAYNE, Pa.--(BUSINESS WIRE)-- Genex Services, a leader in medical cost containment and disability management services, has announced its acquisition of Alpha Review Corporation, a leading provider of medical bill review for the workers’ compensation market. Financial terms were not disclosed.

With this acquisition, Genex significantly strengthens its bill review footprint, complementing its expertise with targeted cost management programs, such as specialty review, extensive PPO networks and data analysis. The Alpha Review management team will remain in place and continue to operate under its brand following the transaction.

“Alpha Review is widely recognized as an outstanding bill review firm with excellent customer service and high-industry regard,” said Delphia Frisch, executive vice president/COO of Genex Services. “We look forward to having the Alpha Review employees become part of our broader organization and supplementing our continuum of managed care services.”

Based in Naperville, IL, Alpha Review has specialized in medical bill review services since 1995. They have become one of the premier medical bill review companies in the U.S., working with third-party administrators, insurance carriers, self-insured entities and other organizations that need assistance with medical review services.

“We are excited to extend our services by aligning with a leading managed care service company in Genex,” said Mike Drevalas, Alpha Review founder and CEO. “Both companies are focused on improving the quality and timeliness of care through outstanding bill review service.”

Corporate Finance Associates of Chicago served as the exclusive strategic and financial advisor to Alpha Review Corporation on the transaction.

About Genex Services, LLC

Genex Services (www.genexservices.com) is the trusted provider of managed care services enabling workers’ compensation payers and risk managers to transform their bottom lines. Genex is a managed care leader with more than 2,900 employees and 47 service locations throughout North America. The company serves 381 of the Fortune 500 companies as well as the top workers’ compensation and disability carriers and third-party administrators in the U.S. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems.

About Alpha Review Corporation

Alpha Review Corporation (www.alphareview.com) was formed in 1995 as a medical bill review company servicing insurance carriers, large self-insured entities and third-party administrators (TPAs). By setting specific and unique customer notification parameters and providing customized management reports to ensure a smooth and efficient bill review process, Alpha Review is able to leverage its experience and expertise to provide the best possible savings for customers in all states.

About Corporate Finance Associates of Chicago.

CFA Chicago (www.cfaw.com) represents clients in the sale, merger, purchase, financing, and valuation of closely held businesses across the Americas with revenues of $5-250 million. Every relationship is led by a senior level professional – from the beginning of the project to completion and beyond.

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Genex Services

Tom Kerr, 610-964-5213

tom.kerr@genexservices.com

Source: Genex Services