Fortis to Buy CORE for $45 Million

The American subsidiary of the Belgian-Dutch Financial Services Group Fortis announced plans to acquire New York-based provider of employee absence management services CORE for $4.92 a share. Fortis will also assume CORE’s $13 million corporate debt, bringing the total value of the acquisition to an estimated $45 million.

The move was seen as complimenting Fortis position in the disability insurance and reinsurance markets in the U.S.