PLANO, Texas, July 17, 2009 (GLOBE NEWSWIRE) -- David Lindsey announced today that Pan-American Life Insurance Group has completed the acquisition of USNow, a nationally recognized leader in the marketing, administration and management of limited medical plans.
Since 1995, David Lindsey has pioneered the concept of managed limited medical benefits, providing underinsured/uninsured individuals and corporate employees with access to affordable group healthcare. After founding USNow in 2002, Lindsey has strived to expand this concept. In 2006, Lindsey revitalized an old relationship with Pan-American Life, focusing USNow's attention on Pan-American's U.S. worksite product line. In 2007, Lindsey sold Pan-American Life a 20 percent ownership stake in USNow; and now, after several months of negotiation, the acquisition is now complete with Pan-American's purchase of Lindsey's remaining interest.
According to John Foley, Senior Vice President - Domestic Markets for Pan-American Life Insurance Group, "making USNow a part of Pan-American Life is of great strategic importance to our business as we expand our distribution in the United States, strengthen our commitment to the US Hispanic market, and continue to identify new sources of revenue growth."
Per David Lindsey, the timing of this acquisition could not have been better. "We've got a healthcare crisis on our hands. While I will continue to promote Pan-American products with great enthusiasm, giving back to Pan-American the primary responsibility of distributing their products will free up my time to employ new innovations."