Broadspire Buys Cunningham Lindsey, RSKCo TPAs

Broadspire Services Inc., a Platinum Equity company, has signed a definitive agreement to acquire the United States third party claims administration (TPA) business of Cunningham Lindsey Claims Management, Inc. (CMI), and RSKCo Services, Inc., from its parent company, Lindsey Morden Group Inc. Broadspire intends to integrate CMI and RSKCo into its existing operations and will service the existing claims obligations of both RSKCo and CMI in exchange for a payment by Cunningham Lindsey U.S. of $22.0 million. Broadspire will also acquire $4.0 million in net working capital of the claims admini...