LTCG Agrees to Acquire LifePlans

By a News Reporter-Staff News Editor at Obesity, Fitness & Wellness Week -- LTCG, the recognized leader in business processing outsourcing for long term care insurance, just announced it has signed a definitive agreement to acquire LifePlans, Inc., a national provider of innovative risk management solutions for insurers, and its Canadian division LifePlans LTC Services, Inc. The agreement covers the purchase of LifePlans' long term care and related risk management services and assets from Munich American Reassurance Company (Munich Re, U.S. (Life)). Munich Re, U.S. (Life) will retain LifePlans' healthcare services business and operate under the name LP Health Services, LLC (see also Mergers and Acquisitions).

This strategic acquisition positions LTCG as the undisputed industry leader in the area of underwriting and claims, and expands its North American nurse network with the addition of more than 2,000 clinicians. These nurses perform face-to-face and telephone screenings in order to collect valuable insight about an applicant's risk factors or an existing policyholder's eligibility for benefits. This information helps insurers make informed decisions that lead to better risk management. LifePlans also offers an evidence-based cognitive screening tool, the Enhanced Mental Skills Test (EMST), which will complement LTCG's own Minnesota Cognitive Acuity Screen (MCAS), bringing together the two most powerful cognitive screening tools in the industry.

LifePlans has partnered with long term care insurers for three decades and is a well-respected brand in the LTC insurance industry. Since its inception, the organization has built one of the most comprehensive field network of nurses in the United States, and has expanded its customer contact center in terms of capabilities, training and new technologies. Their suite of services is an ideal complement to LTCG's own end-to-end administrative solution and will add value to its existing partnerships with leading insurers. LTCG will also be able to expand the breadth of its services thanks to LifePlans' proprietary programs. One such example is the LIFT wellness program, which includes a comprehensive in-home assessment to help policyholders make lifestyle changes that promote wellness and prevent falls-one of the leading drivers of LTC claims.

"This acquisition showcases LTCG's willingness to remain committed to the long term care industry," said Peter Goldstein, CEO of LTCG. "By integrating LifePlans' highly knowledgeable people, innovative programs and market expertise into our own solutions, we are making an investment in the future success of our customers."

LTCG is excited to leverage LifePlans' unique capabilities, and offer the customers of both companies an enhanced set of services and flexible engagement models. The company is expecting minimal disruption to these organizations as this transition takes place.

Keywords for this news article include: LTCG, Risk and Prevention, Mergers and Acquisitions.

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