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Health Care Service Corporation To Acquire Trustmark Health Benefits

Aug 11, 2022•over 3 years ago

Acquiring Company

Health Care Service Corporation

Acquired Company

Health Care Service Corporation

ChicagoChicagoHealth CareHealth Care

Description

Health Care Service Corporation (HCSC) has signed a definitive agreement with Trustco Holdings, Inc. (Trustmark) to purchase its wholly owned subsidiary, Trustmark Health Benefits (Health Benefits), which is a leading third-party administrator of health benefits. The acquisition will provide HCSC with additional capabilities to serve a broader set of customers seeking customizable and flexible health benefit solutions.

Company Information

Company

Health Care Service Corporation

Location

Chicago, Illinois, United States

About

Health Care Service Corporation is the country's largest customer-owned health insurer, with nearly 17.5 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed