Merger to Make Genex Subsidiary of Mitchell International

Friday, September 28, 2018 | 0

Technology provider Mitchell International and case-management provider Genex Services announced Thursday that they have reached a definitive merger agreement under which Genex will become a subsidiary of San Diego-based Mitchell.

Alex Sun

"Through the addition of the Genex team, we are bringing together market leaders in medical compliance and cost containment and solutions focused on the injured worker and return to work,” stated Mitchell Chief Executive Officer Alex Sun. “This is a wonderful opportunity to drive even better claims outcomes for our clients, and deliver meaningful new innovation through deeper technology and data integrations, and enhanced user experiences.”

Genex will focus on clinical solutions, complementing Mitchell's auto physical damage, casualty and pharmacy divisions, the companies said. The leadership team of Genex, led by Chief Executive Officer Peter Madeja, will continue to guide Genex from its current headquarters in Wayne, Pennsylvania.   

Alex Sun will continue as chief executive officer of Mitchell. Both will form a newly created Office of the Chairman to guide the merger and will serve on the board of directors of the combined operation.  

The companies did not disclose the terms of the transaction. Both are private companies.

Mitchell was founded by Glen Mitchell in 1946, starting out as a list of automobile part numbers and descriptions to aid body shop owners, according to the company's website. It now offers data analytics services throughout the property and casualty industry, including workers' compensation.

Genex was founded in 1978 as General Rehabilitation Services. It changed its name to Genex Services in 1994 and became the nation's largest case-management services firm when it acquired Intracorp’s workers' compensation and disability case management business from CIGNA, according to the company's website.