NFP Acquires Valued Pharmacy Services
Acquisition enhances NFP's pharmacy benefit management consulting capabilities
NEW YORK – February 13, 2017 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual private client solutions, announced today it has acquired Valued Pharmacy Services of the Midwest, Inc. and Healthcare Coalition for the Uninsured, LLC, collectively known as VPS. The transaction closed on December 29, 2016.
Based in Chesterfield, MO, VPS is a pharmacy benefit management consulting firm that provides customized prescription solutions to employers, health plans, self-funded groups and individuals through its coalition contracts with major national pharmacy benefit managers and prescription assistance cards. VPS is able to obtain substantial prescription pricing discounts on behalf of employer groups and provide tailored consultative solutions to its clients in managing their pharmacy benefit programs.
The principals of the firm will assume new titles at NFP, with Mike Rogers as the managing director of Pharmacy Services, reporting to Ed O'Malley, president of Corporate Benefits & Individual Solutions.
"We're excited to welcome VPS to the NFP family. VPS provides NFP with a national platform in the pharmacy benefit management space, an increasingly complex and vital aspect of employee benefits," said O'Malley. "The acquisition also increases our consulting capabilities, which aligns with NFP's growth strategy and dedication to offer more value for our existing client base as well as prospective clients."
Rogers said, "We are thrilled to join NFP and to serve as a valuable added resource in NFP's extensive consulting offering to its clients by introducing new products and services."
At NFP Corp., our solutions and expertise are matched only by our personal commitment to each client's goals. We're a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates.
NFP has more than 3,400 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was ranked the 2nd fastest-growing US large-group employee benefits brokers by Employee Benefit Adviser. In addition, Business Insurance ranked us as the 5th largest global benefits broker by revenue, the 4th largest US-based privately owned broker and the 11th largest broker of US business. PlanSponsor ranked us the 5th largest executive benefits provider of nonqualified deferred compensation by number of plans, and we were ranked 11th in personal lines P&C revenue by Insurance Journal.
For more information, visit NFP.com.
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