"This is a very important milestone that signifies our transformation into a fully independent service provider," said Patricia A. Drago, president and chief executive officer of Broadspire. "It's a new beginning, built on a very strong foundation," she said in a statement.

Broadspire provides a variety of management services for workers' compensation, auto liability and general liability claims. It also provides an array of disability, Family Medical Leave Act and absence management services, as well as integrated return to work programs.

The new name was announced to employees and customers at the kickoff of a rebranding campaign that will continue this fall and includes advertising and a new Web site, www.choosebroadspire.com.

Establishing a strong corporate identity is vital to sustaining the new company's momentum, said Rob Joubran, chief operating officer for Platinum Equity.

'Broadspire' will be defined by the fundamental values that attracted Platinum to this business in the first place?the quality and commitment of its employees, products and services."

The company said the name was chosen to reflect "the company's defining characteristics?evoking the breadth and quality of service that are the company's foundation and the long-range vision that informs its aspiration for growth as a market leader."

Ms. Drago said the company will continue to offer its services on an unbundled basis, while also considering ways to better integrate a broad variety of products and services.

Broadspire offers a broad array of absence management services including risk and safety consulting; workers' compensation; auto liability, general liability, and short- and long-term disability claim management services; Family Medical Leave Act administration; and total absence management programs.

Platinum Equity is a global firm specializing in the merger, acquisition and operation of services and solutions companies. Since its founding in 1995, the company has completed over 40 transactions, building a portfolio of 19 companies with more than 18,000 employees and revenues approaching $4 billion, according to the company.