BALTIMORE, July 12, 2005 (PRIMEZONE) -- PERFORMAX, Inc., the Baltimore-based national designer and manager of self-funded employee health benefit plans, is moving its headquarters from Tide Point to the Alex. Brown Building in Baltimore's downtown commercial district. The company will occupy the entire 10th floor of the building. The move is anticipated to take place in September 2005.
PERFORMAX President and CEO Jacob L. Canova stated: "In our search for new office space, one of our top priorities was remaining in Baltimore City. Our company was founded in Baltimore more than 18 years ago, and we have laid down deep corporate roots here.
"Currently, our corporate offices are spread between two buildings," Canova said. "The new office space will accommodate all of our Baltimore employees. The result will be an environment that is very conducive to effective workflow and communication."
Over the past two years, PERFORMAX has demonstrated vigorous growth, increasing its size by 75 percent. A portion of this increase resulted from the acquisition of Intermountain Benefit Administrators, Inc. of Denver and Regional Insurance Managers, Inc. of Salt Lake City. Through these strategic mergers, PERFORMAX strengthened its market position in the mountain and intermountain states.
Baltimore Mayor Martin O'Malley commented: "Baltimore's dynamic potential as a major commercial center depends on the continued success and support of PERFORMAX and other companies that have chosen to build their future here. PERFORMAX's commitment to Baltimore exemplifies our city's public partnerships with its corporate citizens, securing our growth for years to come."
PERFORMAX is a national developer, manager and administrator of self-funded employee health and benefit plans. PERFORMAX consultants help small and middle market employers custom design long-term, strategic solutions to their health and prescription benefit requirements. PERFORMAX has 13 offices stretching from coast to coast and plan participants throughout the U.S. For more information on PERFORMAX, visit the company's web site at www.GetPERFORMAX.com.