Crawford & Company said it has entered into a definitive agreement to acquire third-party administrator Broadspire Services for $150 million.
Crawford, an Atlanta-based claims management specialist, said yesterday that it plans to acquire Platinum Equity's interest in Plantation, Fla.-based Broadspire, a third-party administrator offering customized casualty, medical management and integrated disability management services.
Crawford said it would purchase the company for a total of $150 million. The company added that the acquisition is anticipated to more than double Crawford's revenue from self-insured clients.
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