WELLESLEY, Mass., April 20, 2017 /PRNewswire/ -- The U.S.
business group of Sun Life Financial has entered into an agreement
to acquire The Premier Dental Group, Inc. (PDG), a Minnesota-based dental network that offers one
of the strongest dental preferred provider networks (PPOs) in the
state, as well as network offerings in Florida, Wisconsin, Missouri and several other Midwestern
states.
Sun Life has been actively making strides to enhance its dental
presence, including the 2016 acquisition of the U.S. Employee
Benefits Business of Assurant, Inc., which resulted in Sun Life
having the second-largest dental network in the U.S. The
acquisition of PDG will allow Sun Life to further strengthen its
proprietary dental network.
"Strong provider networks play a crucial role in an effective
dental offering," said Stacia
Almquist, vice president of Dental and Vision, Sun Life
Financial U.S. "This is an exciting addition to our growing dental
business. PDG's strong brand and robust network will help us
enhance the dental experience for our clients in the regions where
PDG operates."
"PDG is a natural fit with Sun Life with its understanding of
dental networks, commitment to the dental business and focus on
serving clients," said Pamela
Hargrove, president of PDG. "Together, Sun Life and PDG will
ensure that our network clients and dental providers continue to
receive the same high-quality service they do today."
PDG will continue to operate under its existing brand as a
stand-alone entity. Founded in 1991, PDG's primary business is
operating a leading dental provider network that dental plan
issuers and administrators can lease to supplement their own
networks. The company is well known for its strong dental provider
relationships in its focus states.
The acquisition is expected to be completed by the end of the
second quarter of 2017, subject to the satisfaction of customary
closing conditions. Terms of the acquisition were not
disclosed.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of insurance, wealth and
asset management solutions to individuals and corporate Clients.
Sun Life Financial has operations in a number of markets worldwide,
including Canada, the United States, the United Kingdom, Ireland, Hong
Kong, the Philippines,
Japan, Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December
31, 2016, Sun Life Financial had total assets under
management of C$903 billion. For more
information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
In the United States, Sun Life
Financial is one of the largest group benefits providers, serving
more than 60,000 employers in small, medium and large workplaces
across the country. Sun Life's broad portfolio of products and
services in the U.S. includes Disability and Absence Management,
Life, Dental and Vision, Voluntary and Stop-Loss insurance. This
includes the acquisition of the U.S. Employee Benefits business of
Assurant, Inc., in Q1 2016. For more information, please visit
www.sunlife.com/us.
Media contact:
Devon Portney Fernald
Sun Life Financial
781-416-7151
devon.portney.fernald@sunlife.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sun-life-financial-to-acquire-the-premier-dental-group-inc-dental-network-300442636.html
SOURCE Sun Life Financial