NEW YORK, N.Y., January 4, 2013 – The Guardian Life Insurance Company of America (“Guardian”), one of the nation’s largest mutual life insurers and a leading provider of employee benefits, today announced that it has acquired Westminster, Colorado-based Reed Group, a recognized leader in absence management services that help employers comply with federal and state regulation and get employees back to work quickly and safely.
Reed Group will operate as an independent, wholly owned subsidiary of Guardian, retain its name and continue to serve all of its customers as it does today. Specifically, Reed Group helps its customers reduce the cost, compliance risk and complexity of employee absences. Its products and services address FMLA, ADA, state leaves, company leave plans, and short- and long-term disability programs.
This acquisition expands Guardian’s disability and absence management portfolio, further demonstrating the company’s commitment to innovative employee benefit solutions and meeting the needs of employers.
Commenting on the transaction, Deanna Mulligan, President and Chief Executive Officer of Guardian said, “Reed Group is well recognized and respected in the marketplace with a proven track record of ensuring workplace productivity and compliance for customers. We look forward to helping ensure their continued success in the markets they serve and working with them to seek out new opportunities.”
David Roberts, Chief Executive Officer of Reed Group, added, “We are excited to have our long-term home as part of Guardian. We share their commitment to providing excellent absence management services to employers and employees. All of our customers can expect a continued high level of service from Reed Group and, backed by the strength of a Fortune 500 company, we will take advantage of new opportunities.”
Reed Group will continue to operate, and invest in, its current three divisions: Reed Group Services to help manage and administer claims and absences; LeaveProTM, a software solution that helps employers manage absences; and MDGuidelinesTM, a web-based return-to-work toolkit.
Terms of the transaction were not disclosed. Cain Brothers & Company, LLC served as exclusive financial advisor to Reed Group on the transaction. DLA Piper served as legal counsel to Reed Group.
A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, disability income and dental insurance products, and offer funding vehicles for 401(k) plans, annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 115,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
For more information about Guardian, please visit www.GuardianLife.com.