NEW YORK--(BUSINESS WIRE)--
The Guardian Life Insurance Company of America (Guardian), a leading provider of employee benefits and one of the largest dental insurers in the United States, today announced it has entered into an agreement to acquire Premier Access Insurance Company, a provider of dental coverage and care to employers and individuals with more than 634,000 members.
The acquisition strengthens Guardian’s existing Dental Preferred Provider Organization (PPO) and Dental Health Maintenance Organization (DHMO) network in several states including California, Utah, Nevada and Arizona. It also extends Guardian’s reach into the state-run Medicaid and Children's Health Insurance Program (CHIP) markets which are expected to grow significantly due to expanded eligibility under the Affordable Care Act (ACA). Guardian will also gain a presence on six individual state exchanges, complementing its existing offering on 48 of the small business health (SHOP) exchanges.
“ACA is changing the dental benefits landscape. It is the responsibility of insurers such as Guardian to deliver cost-effective, quality dental care to more Americans where and how they are looking to be served,” said Dong Ahn, Executive Vice President, Guardian. “Guardian’s acquisition of Premier Access demonstrates our commitment to maintaining our position as a leading dental company while expanding our reach to serve more customers who are seeking access to dental insurance through Medicaid and the exchanges.”
Premier Access has approximately 620 employees, serves over 5,000 employer plans and operates 18 dental centers. As part of Guardian, Premier Access customers will gain access to Guardian’s nationwide dental network. Premier’s exchange and government-funded program businesses will expand nationally. The company was founded in 1989 and is based in Sacramento, California.
The agreement is subject to regulatory approval. Terms of the transaction were not disclosed.
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 eight million employees and their families at over 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 nationwide. For more information about Guardian, please visit www.GuardianLife.com.
Jeanette Volpi, 212-919-2188