Argus Announce Acquisition Of One Team Health
The Argus Group today announced the acquisition of One Team Health [‘OTH’], a leading third-party overseas care administrator.
“The purchase forms part of the Argus strategy to diversify and expand its global business operations and develop a business model that reduces healthcare expenses while improving quality of care,” the company said.
“Headquartered in Toronto, Canada, OTH specialises in medical case management and offers access to top quality healthcare providers around the globe. With a patient-centric approach and focus on quality outcomes, OTH provides 24-hour worldwide medical assistance, including preauthorisation and emergency evacuation, pursuant to policy benefits.
“Intricately familiar with the needs of Bermuda residents, the OTH team is comprised of physicians, nurses, case managers, facilitators, and coordinators with a combined tenure and experience of servicing Bermuda for over 50 years. The acquisition builds upon the longstanding relationship between Argus and OTH Founder John Park, who has partnered with Argus for over 20 years as a senior executive of its previous overseas health management companies.”
Alison Hill, Chief Executive Officer of The Argus Group, comments, “With healthcare costs on the rise globally, Argus recognises that we have a responsibility to help drive down these costs for Bermuda and this acquisition forms part of our commitment to a long-term solution. The purchase of OTH provides us with data and resources we can leverage to improve access to quality overseas care at affordable pricing for all of our clients.”
Peter Lozier, Executive Vice President, Argus Group Insurance, states, “OTH’s capabilities integrate perfectly with those of Argus. Historically, there has always been a segregation of local and overseas care when, in reality, the individual should be viewed and supported through a single lens. As the only provider in Bermuda to own such an entity, Argus is now uniquely positioned to provide fully integrated, seamless, continuity of care and record management via the use of our own local and overseas case managers.”
Mr. Lozier adds, “While such a holistic view primarily improves quality of care, it also has significant cost implications. This integrated approach not only allows us to acquire care from a refined set of providers that are renowned for delivering better results, but also improves access to competitive pricing. We are continually finding ways to evolve and enhance our business model to better balance quality care and affordability.”
