WINNIPEG — The Canada Life Assurance Co. has signed a deal to buy ClaimSecure Inc., a company that provides health and dental claim management services.
Financial terms of the deal were not immediately available.
Canada Life says the acquisition grows its business in the third-party administrator and third-party payer markets.
The company says ClaimSecure’s main operations centre will remain in Sudbury, Ont., and its head office will stay in Mississauga, Ont.
The deal, which is subject to regulatory approvals, is expected to close in the third quarter of this year.
Canada Life is a subsidiary of Great-West Lifeco Inc.
This report by The Canadian Press was first published July 13, 2021.
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The Canadian Press