Plano-based Texas True Choice acquired by Viant

by PegNews wire

PLANO — Viant Holdings, Inc., a leader in healthcare payment and cost management solutions, today announced that it acquired Texas True Choice, Inc. for $54 million, consisting of $44 million in cash consideration and shares of Viant Holdings, Inc. common stock. The company hopes that the acquisition will expand Viant's PPO network offerings in the group health market and enhance its existing lines of services to the nation's leading health plans, insurers and third-party administrators.

Founded in 1996, Texas True Choice, headquartered in Plano, Texas, is a highly respected Preferred Provider Organization (PPO) with over 350 acute care hospitals and 36,000 physicians in their network, providing access to over 2,100 employers representing 820,000 members statewide.

Commenting on the announcement, Viant Holdings CEO, Daniel J. Thomas, said, "It is clear Texas True Choice is one of the best performing PPO networks in Texas, with an excellent reputation, strong leadership and significant brand identity. This transaction reflects our ongoing commitment to invest in our network services business, in response to our customers needs for increased coverage, especially in key states such as Texas." Adding, "Michael Wilson and his team have done a great job building a leading PPO network in Texas with prospects for continued growth and performance enhancement."

Michael Wilson, Founder, President and CEO of Texas True Choice added "We are very excited about the opportunity to join Viant. Collectively, Texas True Choice and Viant will create a significant advantage for our clients and network providers. Combining a best in class local/regional network with Viant's national presence creates tremendous opportunity to enhance the local market while quickly building on Viant's national network".

Source: Viant