Health insurer making acquisition
A local health insurer is acquiring a third-party administrator of health benefits.
Grand Rapids-based Priority Health, part of Spectrum Health, will purchase Southfield-based CAM Administrative Services, or CAMADS, effective July 1, according to Priority Health.
Terms of the deal were not disclosed.
“As close strategic partners for years, we saw an opportunity to formally combine our strengths,” said Rick Morrone, SVP of employer solutions, Priority Health. “Our shared vision, values and culture make this a natural fit.”
CAMADS will continue to operate under its current name and business model.
Organizations working with CAMADS will see no outward change in operations, Priority Health said.