|[January 04, 2013]
The Guardian Life Insurance Company of America Acquires Reed Group
NEW YORK --(Business Wire)--
The Guardian Life Insurance Company of America ("Guardian"), one
of the nation's largest mutual life insurers and a leading provider of
employee benefits, today announced that it has acquired Westminster,
Colorado-based Reed Group, a recognized leader in absence management
services that help employers comply with federal and state regulation
and get employees back to work quickly and safely.
Reed Group will operate as an independent, wholly owned subsidiary
of Guardian, retain its name and continue to serve all of its customers
as it does today. Specifically, Reed Group helps its customers reduce
the cost, compliance risk and complexity of employee absences. Its
products and services address FMLA, ADA, state leaves, company leave
plans, and short- and long-term disability programs.
This acquisition expands Guardian's disability and absence
management portfolio, further demonstrating the company's commitment to
innovative employee benefit solutions and meeting the needs of employers.
Commenting on the transaction, Deanna Mulligan, President and
Chief Executive Officer of Guardian said, "Reed Group is well recognized
and respected in the marketplace with a proven track record of ensuring
workplace productivity and compliance for customers. We
look forward to helping ensure their continued success in the markets
they serve and working with them to seek out new opportunities."
David Roberts, Chief Executive Officer of Reed Group, added, "We
are excted to have our long-term home as part of Guardian. We
share their commitment to providing excellent absence management
services to employers and employees. All of our customers can expect a
continued high level of service from Reed Group and, backed by the
strength of a Fortune 500 company, we will take advantage of new
Reed Group will continue to operate, and invest in, its current
three divisions: Reed Group Services to help manage and
administer claims and absences; LeaveProTM,
a software solution that helps employers manage absences; and
MDGuidelinesTM, a web-based
Terms of the transaction were not disclosed. Cain
Brothers & Company, LLC served as exclusive financial advisor to Reed
Group on the transaction. DLA Piper served as legal counsel
to Reed Group.
A mutual insurer founded in 1860, The Guardian Life Insurance
Company of America and its subsidiaries are committed to protecting
individuals, business owners and their employees with life, disability
income and dental insurance products, and offer funding vehicles for
401(k) plans, annuities and other financial products. Guardian operates
one of the largest dental networks in the United States, and protects
more than six million employees and their families at 115,000 companies.
The company has approximately 5,000 employees in the United States and a
network of over 3,000 financial representatives in more than 80 agencies
For more information about Guardian, please visit www.GuardianLife.com.
About Reed Group
Headquartered in Westminster, Colorado, Reed Group has been a
trusted partner to employers, insurers, TPAs, government organizations,
attorneys, and health care providers for over 30 years. Reed Group's
world-class team of clinical and absence management experts helps
organizations deploy Reed Group products and services to improve
employee health and productivity.
Learn more at www.reedgroup.com
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