CBIZ Acquires Government Health Care Consultant Optumas

Rhea-AI Summary

CBIZ, Inc. (NYSE: CBZ) has completed its acquisition of Schramm Health Partners, LLC, known as Optumas, effective June 1, 2021. Based in Scottsdale, Arizona, Optumas specializes in actuarial services for state Medicaid programs and generated around $10.9 million in annual revenue. This acquisition is aimed at enhancing CBIZ's government health care consulting services and offering more comprehensive solutions to clients. The leadership of both companies expressed excitement over the strategic combination, which is expected to boost future growth and improve client service delivery.

Positive

• Acquisition of Optumas enhances CBIZ's government health care consulting services.
• Combines Optumas's actuarial expertise with CBIZ's consulting strength.
• Expected to accelerate growth and provide comprehensive solutions to clients.

Negative

• None.

CLEVELAND, June 4, 2021 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading provider of financial, insurance and advisory services, announced the acquisition of Schramm Health Partners, LLC dba Optumas ("Optumas") of Scottsdale, Arizona, effective June 1, 2021.

Founded in 2006, Optumas specializes in providing actuarial services to state government health care agencies to assist in the administration of Medicaid programs. Optumas has 33 employees and approximately $10.9 million in annual revenue. This acquisition enhances opportunities to broaden the scope of services offered by Optumas and CBIZ to their respective government health care clients.

Jerry Grisko, President and CEO of CBIZ, stated, "We are excited to welcome the Optumas team to CBIZ and to strengthen our long-standing partnership of working side-by-side to serve our government health care clients. Optumas is a recognized leader in health care actuarial services and given the increasing complexity of health care delivery systems, this acquisition offers a unique opportunity to complement our growing government health care consulting practice. Working together, CBIZ and Optumas will accelerate future growth by providing our clients with more comprehensive and seamless solutions."

Steve Schramm of Optumas, stated, "After years of collaboration, it was clear a strategic combination with CBIZ was in the best interest of our clients and employees. Combining our cutting-edge actuarial expertise with CBIZ's government health care consulting services will provide our state Medicaid and other public sector clients with an unparalleled mix of consulting, strategy, and analytical resources to help them achieve their goals. We are excited to become a part of one of the leading national professional services providers whose culture and core values are strongly aligned with ours."

About CBIZ
CBIZ, Inc. is a leading provider of financial, insurance and advisory services to businesses throughout the United States. Financial services include accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 100 Company offices in 31 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S. For more information, visit www.cbiz.com.

View original content:http://www.prnewswire.com/news-releases/cbiz-acquires-government-health-care-consultant-optumas-301305695.html

SOURCE CBIZ, Inc.

FAQ

What is the significance of the CBZ acquisition of Optumas?

The acquisition enhances CBIZ's government health care consulting capabilities, providing a broader range of services.

How much annual revenue does Optumas generate?

Optumas generates approximately $10.9 million in annual revenue.

When was the acquisition of Optumas by CBIZ finalized?

The acquisition was finalized on June 1, 2021.

What services does Optumas provide?

Optumas provides actuarial services specifically for state government health care agencies.

What impact will the acquisition have on CBIZ's clients?

The acquisition is expected to provide clients with more comprehensive and seamless consulting solutions.