Calvert Street announces the sale of CBSA PERFORMAX
On December 5, 2006 Calvert Street Capital Partners ("Calvert Street") completed the sale of CBSA PERFORMAX, Inc. ("CBSA PERFORMAX") to Meritain Health, Inc., a leading provider of health plan management services. Meritain is a division of health care services company Prodigy Health Group. The acquisition doubles the size of Meritain Health, creating the nation’s largest privately held manager of health benefits plans. Financial terms of the transaction were not disclosed.
CBSA PERFORMAX is the fourth largest privately held, self-funded health benefits provider in the country. The national employee health benefit services provider offers a comprehensive choice of integrated services and expertise in all facets of employee health benefits. With more than 500 employees, 21 offices in major national markets, 800 clients and nearly half a million plan participants in all 50 states, CBSA PERFORMAX has a strong presence in every region of the country.
The combined company will operate under the Meritain Health name and maintain CBSA PERFORMAX’s presence in Baltimore and Minneapolis, as well as its regional sales and service offices. In total, the combined company has offices throughout the country, over 1,350 employees, 1,400 clients and over a million members nationally.