Coverys Finalizes Acquisition of GIMC of Florida
On December 1, 2017, Coverys finalized the acquisition of Global Insurance Management Company, Inc. (GIMC), headquartered in Plantation, Fla.
GIMC and its insurance subsidiary, Healthcare Underwriters Group, Inc., provide medical professional liability insurance for physicians and healthcare providers in Florida, Indiana, Kentucky, Ohio, and Texas.
Coverys, a provider of healthcare professional liability insurance and risk services, said it continues to expand its delivery of products and services to meet the demands of the changing healthcare market.
According to Gregg L. Hanson, CEO and president of Coverys, the company will expand and grow GIMC’s products and services with the acquisition.
Joshua Salman, CEO and president of GIMC, said the acquisition expands its service offerings to a core group of hospital and physician policyholders and provides the ability to issue policies in all 50 states.
Sherman & Company LLC served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Coverys. Sandler O’Neill + Partners, L.P. acted as exclusive financial advisor and Thompson Hine LLP served as legal advisor to GIMC.