Less than a month after securing a bank loan to help pay off debts from a previous round of acquisitions, Patriot National has entered into an agreement to purchase two more companies.
Patriot National has purchased the Roseville, California-based managing general agent Phoenix Risk Management, as well as the Newport Beach, California-based utilization-review software firm DecisionUR, according to a Friday press release. A form filed with the U.S. Securities and Exchange Commission shows that Patriot purchased PRM for $1.1 million and DecisionUR for $2.2 million in cash. The PRM contract also...
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