Broadspire News

Broadspire Announces Recovery Services Agreement with Subrogation Partners

FORT LAUDERDALE, FLA. February 22, 2006 – Broadspire, a Platinum Equity company and a leading provider of casualty and disability claims management to companies in North America, has finalized a multi-year recovery services agreement with Subrogation Partners for that company to provide subrogation services to Broadspire clients.

“We continuously provide our clients with superior services and this is part of our efforts to add value for them,” Dennis Replogle, president and chief executive officer of Broadspire, said. “We selected Subrogation Partners because they have demonstrated the ability to lead the subrogation industry over the past several years through their technology-driven solutions.”

Scott Conant, the chief executive of Subrogation Partners, applauded Broadspire’s attention and focus to the subrogation area. “This is often overlooked and underserved by other TPAs. We look forward to utilizing our experience to enhance the recovery returns for Broadspire and their clients.”

Included as part of Subrogation Partners’ offering is a $100 million capital fund for purchasing portfolios of subrogation claims. This provides clients the option of immediately monetizing claims. This program creates liquidity for claims that have already perfected or those that will be future occurrences.

Broadspire (www.choosebroadspire.com), a Platinum Equity company, offers the broadest array of absence management services in the industry. Those services include workers' compensation, auto liability, general liability and short- and long-term disability claim management services; Family Medical Leave Act administration; total disability management programs; field care and medical management services; and risk and safety consulting. Broadspire, based in Plantation, Fla., with 2,800 employees throughout the United States, creates customized solutions designed to increase employee productivity and contain costs.

Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, manufacturing, and entertainment distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum Equity has acquired more than 50 businesses with more than $11 billion in aggregate revenue at time of acquisition.
Subrogation Partners, (www.subropartners.com), is a leading independent provider of subrogation recovery outsource solutions for insurance enterprises, state agencies and corporate entities throughout the United States. Subrogation Partners' Total Outsourcing Solution programs incorporate multiple product lines and practice areas, including forensic review of closed files; administering referrals and file overflow projects; matters relating to arbitration / cross-claim and litigation; and a proprietary capital product designed to meet the needs of carriers that seek the immediate benefits of outright selling entire portfolios of subrogation claims.