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The company will sell the majority ownershil of itsNova third-party administrator line to a new companyy to be established by health-care executive Ronalfd Zoeller, CEO of Azeros Healthcare LLC. While Independent Healtn will retainminority ownership, 43 employees will transfer to the new compan y when the transaction is completed Oct. 1. An additional 15 employeesx will transfer to local technology firm on July 15 when Independentt Health outsources its internal PC support andtelecommunicatiohn functions. The group will continue to work from withi nIndependent Health’s Williamsville offices.
Terms of both deals were not The company also has laid off50 staff-level employees companywide, including three individuals who were not retainer as part of the Nova transaction. Thos affected will receive outplacement services and severance packages. The changes affect about 10 percent ofthe company’s 1,000 employees. In a prepare release, Independent Health President and CEO Michaelk Cropp said the moves are designed to help slow the growtj of health care costs to improverthe long-term fiscal health of not only the but the community and nation.
“Reforming health care requires some very difficult decisions and sacrificesa by all stakeholders and thes actions are clearlyan example,” he said. “Tio succeed, we must all bring forward new and different solutiones in order to enactmeaningful change.” The movese mirror layoffs at other area health insureras this spring, including 36 in two rounds at , the Buffalo-based parent company of BlueCross BlueShield of WNY; while cut 17 jobs from its case management citing a plan to realign its competitive Cropp stressed that Independent Health remainse financially and operationally stable, posting a positive bottom line for the eighth consecutive year.
The changes are intended to help solidifty that position during a time ofuncertaintg nationally. He pointed to the down economy and legislativ e actions affecting the industry on the state and federal The company plans to retainits self-funded servicez division, which has 41,600 A plan to integrate the division with the Nova line was Independent Health also operates a pharmacy benefit managemeny service, which has 66,500 members nationwide; and recently invested in an online vitamin and supplement The Nova line was acquiree by Independent Health in late 2003 from The healtu benefits administrator was founded in 1982 and becamr a wholly owned subsidiary of FNFG in 1999.
The line currentlyh has 16,800 medical members and 55,000 dentalk members. Zoeller, who could not be reached to has a long history in thelocal health-care including founding in 1983. He grew the firm to $50 millionb in revenues and more than 600 employees when it was acquirecd bya Connecticut-based investor groupo in 2005. Now known as , the companyt is the nation’s largest independent provider of serviceasfor self-funded health plans with over 1,700o self-funded clients and more than one million membersw nationally. Zoeller started Azeros Healthcare in 2006 as a consultingf organizationto third-party administrators, and employers.
It also serves as a mergera and acquisitions brokerfor third-party administrators. Michaeol Faso, senior vice president for financr andancillary services, said in a telephone interview the Nova divisionj had been flat, with business declining in recent yearse while IHA’s self-funded services line was growinyg significantly. “A lot of employer groupsx are looking at self funding as analternative option, so we are very focusec on that,” he said, pointing to recent contracts with , and , whichb together will bring total membershil in that division over 55,000. Independent Health has about 375,000 memberse throughout its business lines in the Wester n NewYork region.
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