Sun Life Financial Inc. has announced the completion of its acquisition of Pinnacle Care International, Inc., U.S. health-care navigation and medical intelligence provider.
Based in Maryland, PinnacleCare has more than 170 employees. PinnacleCare will become part of Sun Life’s U.S. Stop-Loss & Health business, an independent stop-loss provider in the country.
According to a statement, “The acquisition will expand Stop-Loss & Health beyond the traditional model that reimburses employers for the costs of serious health conditions after an employee’s care has occurred. Through PinnacleCare, Stop-Loss & Health will engage with the employee at diagnosis to help improve the entire spectrum of the care experience and outcomes for both the employee and employer. The transaction creates an integrated offering unique in the stop-loss market.”
“PinnacleCare’s services are currently available to more than two million people through employers and individual clients. Sun Life’s extensive distribution network and employer relationships will help PinnacleCare reach even more people with their services while continuing to serve their clients as they do today. Sun Life will work with PinnacleCare to build new Stop-Loss & Health client solutions and will explore extending PinnacleCare’s services to members of its other U.S. benefits plans,” the statement added.
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