Aon has bought New York-based Cammack Health, boosting its healthcare consulting capabilities with expertise in actuarial and analytics, captive management, reinsurance and other risk- and HR-related solutions. The deal, the value of which has not been disclosed, sees the transfer of around 35 consultants to Aon.
Cammack Health is a New York-based healthcare management consultancy firm founded in 1958. The firm serves businesses and other clients with strategy and advisory services related to their respective employee healthcare plans and packages. The company leverages a range of technologies and ‘best-practices’, to support their clients, including analytics and onsite support, and is one of the only local firms on the East Coast specialised in hospital benefits consulting. The firm has a staff of around 35 consultants, and is led by partners Frank Lonardo and Erin O’Connor.
The transaction sees Cammack Health become part of Aon. With the deal, Cammack Health’s employees become part of Aon’s larger global health-care related practice of almost 15,000 employees. Additionally, Lonardo and O’Connor will take up leadership positions within the Health practice of the professional services firm.
The acquisition provides Aon with a host of new and complementary capabilities in the area of healthcare consultancy, boosting its propositions to healthcare clients and the thought leadership of its healthcare practice. In addition, the bolt-on provides Aon with additional healthcare expertise in actuarial and analytics, captive management, reinsurance and other risk- and HR-related solutions.
Joe Reilly, leader of Aon’s Health & Benefits practice in the East region, says, “The war for talent across health care organisations is at an all-time high, and how organisations design and administer benefits plays a key role in attracting and retaining talent. At the same time, health care organisations are seeing rapid changes across the industry that directly impact their broader business strategies as health care providers continuously improve their benefits programs and overall business models.”
Lonardo remarks, “Health care systems continue to seek ways to provide higher value at lower cost to compete in an industry that is experiencing massive transformation. Regulatory changes, evolving technologies and organisational risk tolerance has a direct impact on financial viability, patient satisfaction and population health management. Joining forces with Aon assures a deeper investment in our business, bringing exponentially more resources and solutions to better help health care organisations evolve in today’s dynamic market.”