HealthPlan Holdings Acquires Zenith Administrators

Tampa-based HealthPlan Holdings, Inc., a provider of outsourced solutions to insurers in the individual, union trust and voluntary benefits markets, has acquired Zenith Administrators, Inc. The company will merge Zenith with its subsidiary, American Benefit Plan Administrators, Inc. (ABPA). Established in 1951, ABPA specializes in providing administrative services for employee benefit plans on a national basis.

Since its founding in 1986, Zenith has expanded to 25 offices across the U.S. The company is comprised of seven regional third-party administrators that were independently owned and operated prior to the company's inception.

Together, ABPA and Zenith will have more than 1,200 employees and provide benefit administration services to nearly 2 million plan participants across the country. The two companies will offer customers more than 120 years of experience in Taft-Hartley benefit plan administration.

Art Schultz will serve as chief executive officer of the combined company. He previously was executive vice president and chief operating officer of HealthPlan Services. John Corapi will continue to serve as president of Zenith.

HealthPlan has grown to become the nation's largest independent company providing outsourced solutions to insurers focused on the individual, union trust and voluntary benefits markets. Since partnering with Water Street Healthcare Partners, a strategic private equity firm focused exclusively on health care, HealthPlan has expanded through a combination of organic growth and strategic acquisitions. In the past year, it has doubled its members under administration, as well as its revenues.