Las Vegas pharmacy benefits firm to be acquired in deal
5 September 2012
ScripNet, a fast-growing Las Vegas benefits-management company, has been bought out.
Healthcare Solutions said Wednesday it reached a definitive agreement to buy the firm. Terms of the deal were not disclosed.
Duluth, Ga.-based Healthcare said the combined organization would earn more than $400 million of annual revenue.
ScripNet, founded in 1997, is based on Banburry Cross Drive in Summerlin. It focuses on workers’ compensation-related pharmacy benefits.
Led by co-founder and CEO Dennis Sponer, the company earned $48 million of revenue last year with 71 employees, according to Inc. magazine. That compares with $7.9 million of revenue and 20 employees a decade ago.
Healthcare Solutions was formed in 2007 after Dallas investment firm Brazos Private Equity Partners LLC merged two of its portfolio companies, Procura Management and Cypress Care. Healthcare says it has more than 400 employees and more than 750 active customers.
The company helps clients manage workers’ compensation and auto injury claims.
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