International Medical Group, Inc. Enters into Acquisition Agreement with ABRY Partners
INDIANAPOLIS (Sept. 10, 2015)—International Medical Group®, Inc. (IMG®), a leader in the global insurance and assistance services market, has signed a definitive agreement to be acquired by ABRY Partners (ABRY), a leading private equity firm headquartered in Boston, Massachusetts.
“ABRY is a natural fit for ownership as IMG continues to grow,” said IMG President and CEO Brian Barwick. “With decades of experience investing in high-quality companies, ABRY will complement IMG’s growth by providing capital to further expand our global presence.”IMG’s operations will not be impacted by the ownership change, Barwick said, adding, “It will be business as usual for our employees, producers and clients.”
Founded in 1989 as a managing general underwriter, IMG has become one of the leading international insurance providers in the world, serving members in more than 200 countries.
“Over the years, IMG has developed a reputation for excellence in the global insurance and assistance services markets,” said ABRY Partner Brent Stone. “We are excited to welcome such a well-established company to our portfolio and look forward to working with the IMG team.”
IMG’s executive management team, Board of Directors and current private equity partners — Altaris Capital Partners and Galen Partners — approved the agreement.
Executive Vice President and Chief Operating Officer Todd Hancock said, “ABRY shares our vision, energy and commitment to being there to protect and enhance the health and well-being of our constituents. We look forward to working with ABRY, and we are grateful to Altaris and Galen Partners for their support since August 2012."
Greenhill, a leading independent investment bank, facilitated the transaction. Terms of the transaction were not disclosed.