Sedgwick CMS Holdings Inc., Memphis, Tenn., has acquired Comp Management Inc. for a cash price totaling $191.5 million, the company said.
The acquired group of companies, based in Jacksonville, Fla., provides third-party claims administration and a variety of claims, risk and benefits consulting services to clients nationwide, and posted $145 million in revenue last year.
Sedgwick Claims Management Services Inc., a subsidiary of the acquirer, will merge with CMI's parent company, Security Capital Corporation.
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