Brown & Brown, Inc. Announces the Acquisition of MEDVAL, LLC
March 15 2019 - 6:45AM
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown,
Inc. (NYSE: BRO), today announced that The Advocator Group, LLC, a
wholly owned subsidiary of Brown & Brown, Inc., has acquired
MEDVAL, LLC.
MEDVAL is an industry leader providing a suite
of MSP-compliant services, which services incorporate consistent
experience in front-line claims negotiation and comprehensive
settlement solutions. MEDVAL has annual revenues of
approximately $10,000,000. The MEDVAL team will continue to
operate from their offices in California, Pennsylvania and
Maryland, as MEDVAL, LLC, under the leadership of Jon Gunter and
the experienced MEDVAL team. MEDVAL leadership will report to
Julie Turpin, Chief Executive Officer of The Advocator
Group.
Brown & Brown, Inc. is a leading insurance
brokerage firm, providing risk management solutions to individuals
and businesses. With Brown & Brown’s 80 years of proven
success and thousands of teammates, we offer knowledge you can
trust and strive to deliver superior customer service. For
more information, please visit bbinsurance.com.
This press release may contain certain
statements relating to future results which are forward-looking
statements, including those associated with this acquisition. These
statements are not historical facts, but instead represent only
Brown & Brown’s current belief regarding future events, many of
which, by their nature, are inherently uncertain and outside of
Brown & Brown’s control. It is possible that Brown &
Brown’s actual results and financial condition may differ, possibly
materially, from the anticipated results and financial condition
indicated in these forward-looking statements. Further information
concerning Brown & Brown and its business, including factors
that potentially could materially affect Brown & Brown’s
financial results and condition, as well as its other achievements,
is contained in Brown & Brown’s filings with the Securities and
Exchange Commission. Such factors include those factors relevant to
Brown & Brown’s consummation and integration of the announced
acquisition, including any matters analyzed in the due diligence
process, and material adverse changes in the business and financial
condition of the seller, the buyer, or both, and their respective
customers. All forward-looking statements made herein are made only
as of the date of this release, and Brown & Brown does not
undertake any obligation to publicly update or correct any
forward-looking statements to reflect events or circumstances that
subsequently occur or of which Brown & Brown hereafter becomes
aware.
R. Andrew WattsChief Financial Officer(386)
239-5770
Brown and Brown (NYSE:BRO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Brown and Brown (NYSE:BRO)
Historical Stock Chart
From Apr 2023 to Apr 2024