October 30, 2006, Outcome Capital Securities, LLC completed the sale of e-Triage, Inc., a health and productivity management software business, to Crawford & Company, Inc. (NYSE: “CRD.A” and “CRD.B”). Outcome Capital Securities, LLC acted as exclusive financial advisor to e-Triage in the transaction.
Sharon O’Shea, e-Triage’s President and CEO, who will continue to manage the company said, “I am thrilled with this acquisition because it will open up new markets for e-Triage and Broadspire, a Crawford Company. e-Triage also has products that focus on disability, work, and home stress that can help people on short-term disability recover sooner so they don’t move on to long-term disability, preventing higher costs to employers.”
O’Shea continued, “Outcome Capital Capital met our objectives by providing the experience and expertise necessary to close a successful transaction between our software business and a billion dollar public company. As CEO, I quickly developed a level of trust and confidence in Outcome Capital’s ability to help me navigate through a complex transaction process. The Outcome Capital team assessed our options while considering our financial goals, along with legal and tax implications, and negotiated a final structure and end result that our shareholders were extremely satisfied with.”
“After partnering with e-Triage for two years and seeing the benefits it provides our clients and the industry, we felt like it would be in our best interest to own the company, which also makes other healthcare software,” added Crawford’s President and CEO Thomas W. Crawford. “The e-Triage system recognizes early deterrents to recovery and provides an objective means to identify them, allowing the claims team to manage them more effectively.”
About Crawford & Company
Based in Atlanta, Georgia, Crawford & Company is the world’s largest independent provider of claims management solutions to insurance companies and self-insured entities with a global network of more than 700 offices in 63 countries. Major service lines include workers; compensation claims administration and healthcare management services, property and casualty claims management, class action services and risk management information services. Crawford & Company’s shares are traded on the NYSE under the symbols CRDA and CRDB.
Headquartered in Great Falls, Virginia, e-Triage, an international technology company, develops Health & Productivity Management software to enhance employee retention while reducing employer lost productivity and disability costs associated with presenteeism, absenteeism, illness, and work-related injuries. For each individual case, the e-Triage application applies evidence-based research to identify specific risk factors and then recommends an action plan to mitigate potential problems that may lead to productivity losses and other costs associated with workers compensation claims. The system was developed under the direction of Alf L. Nachemson, M.D., Ph.D., a Swedish researcher who pioneered the research in identifying return-to-work barriers due to psychosocial influences. This system prevents simple claims from becoming complex, and keeps normal lost-time claims from turning into long-term, high-cost claims.
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