Patriot National Acquires 2 Comp Firms

Patriot National announced the acquisition of two California-based firms serving the workers' compensation industry. Florida-based Patriot acquired Phoenix Risk Management Insurance Services Inc., a managing general agent headquartered in Roseville, California, and also purchased DecisionUR, a company based in Newport Beach that develops software to review medical-treatment requests. Patriot National, a brokerage, underwriter and claims administrator, in January took out a $40 million loan to pay debts after failing to raise the $141 million it was expecting through an initial public off...