PMSI Forges Ahead With Clarity And Resources For The Workers' Compensation Market

Tampa, FL (CompNewsNetwork) - PMSI, one of the nation's largest providers of pharmacy and specialty products and services for the workers' compensation and liability markets announced its acquisition by H.I.G. Capital, L.L.C., a leading global private equity investment firm with deep expertise in the insurance and workers' compensation markets.

“We are aggressively investing in the right people and technologies to deliver the highest quality service and programs that are above the rest,” commented Mark Hollifield, PMSI President. “Our focus is intensified with this partnership—we are much more nimble and equipped to address the needs of the marketplace and confidently lead the industry with integrity, insights and knowledge as we look to deliver cost savings to customers and unparalleled care for injured workers.”

PMSI will operate with authority and independence to drive investments for customers. H.I.G.'s operational, strategic and financial support underscores the management team's commitment to deliver best-of-breed integrated specialty services. The leadership team will look to further enhance the customer experience, drive down costs, utilize new technologies, and leverage PMSI's deep domain clinical expertise.  

“H.I.G. is going to invest significantly in PMSI's people and infrastructure to ensure PMSI delivers industry-leading products and services to existing and future customers,” H.I.G. Capital Managing Director, Rob Wolfson said in completing the investment.

PMSI has been serving the workers' compensation industry for more than thirty years and this acquisition solidifies PMSI in a long-term investment partnership to deliver world-class customer service, technology enablement and an expanding industry-specific portfolio.

 About PMSI

PMSI—The Only Solution You Need. Founded in 1976, today PMSI is one of the nation's largest providers of specialty managed care services and products for workers' compensation and catastrophically injured populations. PMSI provides an integrated portfolio of services in Pharmacy, Medicare Set-Asides, Medical Services and Equipment, and Clinical Services that promote quality care for injured workers while helping clients contain costs and control utilization. For more information, please refer to the PMSI website at www.pmsionline.com. 

About H.I.G. Capital

H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well-managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. invested in and managed more than 200 companies worldwide. The firm's current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

Share This Article: