Dallas-based Lockton Dunning Benefits has acquired Excelsior Solutions, a pharmaceutical and healthcare consulting company out of Minneapolis that represents more than 16 million people.
“With this acquisition, we were looking for a game-changer that could bring extensive clinical and prescription benefit management consulting expertise not previously available to employers in our market,” said Lockton Dunning Benefits CEO Bruce Sammis, in a statement. “The tremendous experience of the Excelsior Solutions team, combined with their market influence, tools and resources, will enable our client service teams to more actively and effectively manage prescription benefit costs for our clients.”
Former Excelsior Solutions President Kenneth Dowell joins Lockton Dunning Benefits as senior vice president and chairman of the Lockton Pharmacy Analytics Advisory Board.
“The Excelsior Solutions team is comprised of highly qualified and credentialed consultants including clinicians, pharmacists, and Medicare Part D specialists,” Sammis said.
The transaction was completed Oct. 1. Terms of the acquisition were not disclosed. Excelsior Solutions will retain its name in the immediate future. The combined operation employs 192 associates.