SUN LIFE FINANCIAL INC. By Michael Dabaie
Sun Life Financial Inc. said it would acquire Pinnacle Care International Inc. for $85 million.
PinnacleCare is a U.S. medical intelligence and health-care navigation provider. The company is based in Maryland and has more than 170 employees.
PinnacleCare will become part of Sun Life's U.S. Stop-Loss & Health business.
Sun Life said it expects the deal to close in mid-2021.
The acquisition will expand Stop-Loss & Health beyond the traditional model that reimburses employers for the costs of serious health conditions after an employee's care has occurred. Through PinnacleCare, Stop-Loss & Health will engage with the employee at diagnosis to help improve the entire spectrum of the care experience and outcomes for both the employee and employer. The transaction will create an integrated offering unique in the stop-loss market.
PinnacleCare's services are currently available to more than two million people through employers and individual clients, said Sun Life, a provider of insurance, wealth and asset management services to individual and corporate clients.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
04-23-21 0741ET
