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Cambridge Integrated Services Group Acquired by Scandent Group

Scandent Group, a business process outsourcing (BPO) and global IT consultant to U.S. and international companies, governments and public entities, has acquired Cambridge Integrated Services Group, Inc., a leading claims and loss cost management company serving Fortune 500 self-insured employers, insurance carriers and public entities in the U.S., Europe and Australia. The terms of the sale were not disclosed.

Cambridge Integrated Services Group’s products and employees become part of the Scandent Group organization under the leadership of chairman Chris Sinclair. ProcessMind, Scandent’s BPO subsidiary for insurance, financial services and healthcare, will become part of Cambridge Integrated Services Group, creating one of the largest business process outsourcing companies with a U.S., European and Asian presence. As a result of the acquisition, Scandent Group will have more than 4,000 employees with offices in North America, Europe, Australia and Asia.

“Acquiring Cambridge Integrated Services Group expands Scandent Group’s U.S. and Australian presence, and secures our prominent position in the fast-growing international insurance claims management market,” said Sinclair. “The combined entities will offer our clients the world’s brightest intellectual talent, skilled at lowering business costs and improving operational efficiencies. Our proven ability to dramatically reduce our customers’ business costs and consistently improve the quality of their products and services gives them the competitive advantage that is critical in today’s global marketplace. Scandent is now strategically set to be the clear leader in the expanding landscape of business process outsourcing.”

“Being an independent company that is part of the Scandent Group will open doors and create new opportunities for Cambridge Integrated Services Group in the U.S. and in other countries,” said Tracey Carragher, CEO, Cambridge Integrated Services Group, a Scandent Group company. “It’s a win-win-win situation for our combined workforce, for our business growth and most importantly, our customers.”

Scandent Group provides software engineering, development and support services; insurance claims management and risk management; and business process outsourcing of customer relationship management, accounting and other business infrastructure functions to more than 600 insurance, financial services, healthcare, government and manufacturing firms worldwide.

Cambridge Integrated Services Group is the largest independently owned property and casualty claims and loss cost management service provider. Cambridge provides claims services for workers’ compensation; general, auto, professional and product liability; as well as property, personal lines, assumed/ceded reinsurance and subrogation for Fortune 500 self-insured employers, insurance carriers and public entities in the U.S., Europe and Australia. 

riskVue | The webzine for risk management professionals
December 2004