Argus acquires One Team Health
Argus Group has acquired One Team Health, a Toronto-based third-party overseas care administrator.
The Bermudian-based insurer said the purchase would bolster its efforts to reduce healthcare expenses while improving quality of care.
Alison Hill, chief executive officer of Argus, said: “With healthcare costs on the rise globally, Argus recognises that we have a responsibility to help drive down these costs for Bermuda and this acquisition forms part of our commitment to a long-term solution.
“The purchase of OTH provides us with data and resources we can leverage to improve access to quality overseas care at affordable pricing for all of our clients.”
The acquisition, the company said, builds upon the longstanding relationship between Argus and OTH founder John Park, who has partnered with Argus for more than 20 years as a senior executive of its previous overseas health management companies.
OTH specialises in medical case management and offers access to top-quality healthcare providers around the globe, Argus said. With a patient-centric approach and focus on quality outcomes, OTH provides 24-hour worldwide medical assistance, including preauthorisation and emergency evacuation, pursuant to policy benefits.
The OTH team is comprised of physicians, nurses, case managers, facilitators, and co-ordinators with a combined tenure and experience of servicing Bermuda for more than 50 years, Argus said.
Peter Lozier, executive vice president, Argus Group Insurance, said: “OTH's capabilities integrate perfectly with those of Argus. Historically, there has always been a segregation of local and overseas care when, in reality, the individual should be viewed and supported through a single lens. As the only provider in Bermuda to own such an entity, Argus is now uniquely positioned to provide fully integrated, seamless, continuity of care and record management via the use of our own local and overseas case managers.
“While such a holistic view primarily improves quality of care, it also has significant cost implications.
“This integrated approach not only allows us to acquire care from a refined set of providers that are renowned for delivering better results, but also improves access to competitive pricing. We are continually finding ways to evolve and enhance our business model to better balance quality care and affordability.”