Dental Health Options by Health Resources, Inc. (HRI) has signed an agreement to join Ohio-based Paramount Health Care. Paramount is a health insurance company located in Maumee, Ohio. It is the largest health maintenance organization in northwest Ohio and serves Commercial, Medicare, Medicaid and Marketplace members. Pending regulatory approval, HRI could become a member of Paramount by the end of 2017.
“We view this acquisition as a mutually-beneficial and long-term investment that will strengthen and complement our product portfolio and expand our geographic footprint,” said Jack Randolph, Paramount president. “HRI is a good strategic fit for Paramount. Together, our organizations will integrate and align the synergies of dental with medical through a supportive ownership structure that will improve the health and well-being of our members.”
Paramount was established in 1988 and is affiliated with ProMedica, a nationally recognized, not-for-profit healthcare network based in Toledo, Ohio. Its expansive network includes more than 2,300 physicians and 15,000 employees, treating 4.7 million patients annually at 332 sites throughout northwest Ohio and southeast Michigan. Paramount serves 346,000 members including more than 240,000 in the statewide Medicaid plan.
“We look forward to a very bright future of growing our company with Paramount,” said Terry Bawel, president and CEO of HRI. “We are confident that this new partnership will position HRI to accelerate our strong growth and product offerings while supporting and collaborating with our customer groups. Furthermore, this collaboration will allow us to integrate and align the synergies of dental with medical in the pursuit of a holistic approach to the overall health for our members.”
The acquisition is subject to regulatory approval which could take approximately 60-90 days. Once the deal is approved, Paramount will assume ownership of HRI. HRI will retain all current employees and continue to operate from its headquarters located in Evansville, Indiana.
Dental Health Options by Health Resources, Inc. has served employer groups in Indiana and Kentucky for over 30 years. HRI’s dental plans insure smiles for 250,000 members and provide access to nearly 2,700 directly contracted dentists in Indiana and Kentucky and another 95,000 dentists available nationally through leased network arrangements. Coupling HRI’s proprietary provider network with leased national networks offers members access to a broad array of network providers. In addition, HRI offers feature rich dental plans unrivaled in the small to medium market size group. HRI’s strength lies in its ability to offer dental plans that strike a balance between meeting the needs of its employers, agents, dentists and members. For more information about HRI, please visit www.insuringsmiles.com.
Paramount Health Care is a health insurance company located in Maumee, Ohio. Established in 1988, it is the largest health maintenance organization in northwest Ohio, earning excellent member satisfaction ratings among all patient populations. Paramount serves 346,000 members including more than 240,000 members in the statewide Medicaid plan. It is a member of Toledo, Ohio-based ProMedica, a mission-based, not-for-profit healthcare organization serving northwest Ohio and southeast Michigan. The 12-hospital system has more than 15,000 employees, nearly 2,100 physicians and advanced practice providers with privileges, and more than 800 healthcare providers employed by ProMedica Physicians. For more information about Paramount, please visit www.paramounthealthcare.com.
Chad Decker, Director of Sales, Dental Health Options by Health Resources, Inc.
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