November 12, 2024 by matray

Preverity, a provider of risk management and patient safety solutions for the healthcare industry, announced today that its wholly owned subsidiary, Preverity PSO, has been listed as a Patient Safety Organization (PSO) by the Agency for Healthcare Research and Quality, effective September 6, 2024.

PSOs, established by the Patient Safety and Quality Improvement Act of 2005, play a crucial role in supporting healthcare providers in their efforts to enhance patient safety and healthcare quality. They foster a culture of safety by providing valuable resources, data analysis, and confidential reporting mechanisms.

Preverity's decision to pursue PSO listing stemmed from recognizing the growing demand for specialized patient safety and quality improvement information among its partners and clients. The company's extensive experience in risk management, coupled with its comprehensive database of over 80 percent of U.S. physicians, enables it to uniquely quantify the relationship between clinical activity and patient safety risk. Preverity PSO will provide actionable insights to support healthcare providers in executing a safe, high reliability clinical program.

Preverity PSO's unique capabilities include national patient safety benchmarking data to alert providers of potential areas where they may face an elevated risk of safety concerns. This proactive approach empowers providers to address potential issues before they escalate, ultimately contributing to improved patient outcomes.

"We are thrilled to be recognized as a Patient Safety Organization by AHRQ," said Gene Boerger, Preverity PSO Executive Director. "This designation underscores our unwavering commitment to enhancing patient safety and quality improvement."

Preverity PSO will serve direct providers and health systems. The company's comprehensive database, containing medical billing history, provider transactions, and education offers insights into healthcare provider performance and risk profiles. This database and other resources will help Preverity PSO play a key role in advancing patient safety and supporting healthcare providers in delivering safe, high-quality care.

November 12, 2024 by matray

PIB Group Ltd (‘PIB’ or ‘the Group’), a specialist insurance intermediary, has entered the French market with the strategic acquisition of a prominent French medical malpractice insurance business BEA Group and its subsidiaries.

This investment marks a significant milestone in PIB Group’s ongoing European expansion and establishes a strong platform for further growth in France and beyond.

BEA Group is a French group founded in 2009 by CEO Marco Favale. It operates in the brokerage and claim management sector, focusing on medical malpractice and public market players. BEA Group has nine offices in three locations and also operates in the Italian market, through the 2023 acquisition of Capanna. The deal will see PIB Group providing investment and support to the BEA Group team, allowing them to continue growth across France and Italy.

The French market presents a substantial opportunity for PIB Group to enhance its European presence and offer specialized insurance solutions to a broader clientele. The newly acquired business, renowned for its expertise in medical malpractice, is well positioned to capitalize on the increasing demand for such insurance products across the continent.

With backing from world-leading private equity firms, Apax Funds and The Carlyle Group, this investment is a crucial step in realizing the strategy for PIB Group, consolidating specialist insurance distribution across major European markets.

Brendan McManus, CEO of PIB Group, stated, "Our deal with BEA Group is a significant achievement for the whole PIB Group, marking our 100th investment. France has long been a key missing link in our European growth strategy and I’m proud that we’ve been able to secure such a strong foothold in this critically important market. BEA Group is an entrepreneurial company, with exceptional people who have built an incredible brand and loyal customer base across France and Italy.

"I want to give a very warm welcome to Marco and Alexandre and everyone at BEA Group. Together, we’ll ensure our new colleagues settle well into the PIB family and work closely to ensure that we respect the nuances of the French and Italian markets. Our goal is to blend our international expertise with their deep local knowledge to create a thriving business that benefits everyone.”

Onno Jansen, CEO for PIB Group Europe, commented: “Our investment with BEA Group is one of the most exciting and important deals we’ve done to date. It not only strengthens our position in Europe but also sets the stage for future growth and innovation - much of which will occur in France and Italy. As we continue to pursue our strategy of consolidation and expansion across Europe, this deal is a testament to the team’s commitment to delivering specialised insurance solutions that meet the evolving needs of clients.”

Marco Favale, CEO and founder BEA, commented: “We’ve seen considerable growth at BEA Group over the past few years as we’ve worked to become a leading player in the medical malpractice space. Joining PIB Group for us marks the next stage of our journey, taking all that we’ve built so far and accelerating that growth using PIB Group’s resources and investment. It’s an incredibly exciting time for our team and clients, and we’re looking forward to a bright future ahead in France and Italy.”