Pacific Blue Cross buys out rival
Posted September 24, 2014 12:08 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – BC’s biggest health insurance and benefits provider has bought a smaller rival.
Pacific Blue Cross has paid an undisclosed sum for D.A. Townley & Associates.
Whatever the price, it’s a big payday for Burnaby-based Townley’s longtime owner and president, Harvey Mason.
Townley is Western Canada’s largest third-party administrator, managing 1,000 benefit plans with about 100,000 members and $1 billion in assets under administration. Pacific Blue Cross serves a 1.5 million members.
The companies are planning to take two years to integrate their operations and management, during which time they’ll remain separate.
