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An Illinois company bought Overland Park-based benefits administrator FMH Benefit Services Inc. for an undisclosed amount.
CoreSource Inc. of Lake Forest, Ill., announced that the purchase was effective Nov. 1. Neither company disclosed terms of the deal, but one industry executive estimated the sale price at $10 million.
FMH is a third-party administrator, providing a range of health and benefits products and services for self-insured employee benefit plans. The company was founded in 1996 by Joel Frisch, George McDonnell and Scott Holland, all still executives with the company. It has 160 employees and serves 65 employer groups and managed-care plans covering more than 65,000 employees, mainly in the Midwest.
CoreSource, also a third-party administrator, or TPA, is a subsidiary of Trustmark Mutual Holding...