Alta Health Strategies Inc., the Salt Lake-based independent cost management company serving the self-insured corporate market, has acquired Smith Administrators Inc. of Salt Lake City, a third party administrator. Terms of the deal weren't announced.
W. Terry Nofsinger, Alta president and chief executive officer, said the acquisition, which should be completed Oct. 31, solidifies the company's position as the leading managed health-care provider to self-funded clients in Utah."This transaction is consistent with our strategy to opportunistically acquire strong-performing health-care management entities that significantly enhance Alta's presence in high-growth markets," Nofsinger said.
Smith Administrators provides third-party health claims administration and other managed care services to 270 clients in Utah, Colorado, New Mexico and California. During 1988, Smith paid $65 million in medical benefits for the 100,000 employees and dependents of their self-funded clients.
Under terms of the agreement, Richard L. Smith, founder, president and majority shareholder of Smith Administrators, will remain with Alta and provide marketing and management services for the company in Utah and other locations.