WELLESLEY, Mass., April 20, 2017 /PRNewswire/ -- The U.S. business group of Sun Life Financial has entered into an agreement to acquire The Premier Dental Group, Inc. (PDG), a Minnesota-based dental network that offers one of the strongest dental preferred provider networks (PPOs) in the state, as well as network offerings in Florida, Wisconsin, Missouri and several other Midwestern states.
Sun Life has been actively making strides to enhance its dental presence, including the 2016 acquisition of the U.S. Employee Benefits Business of Assurant, Inc., which resulted in Sun Life having the second-largest dental network in the U.S. The acquisition of PDG will allow Sun Life to further strengthen its proprietary dental network.
"Strong provider networks play a crucial role in an effective dental offering," said Stacia Almquist, vice president of Dental and Vision, Sun Life Financial U.S. "This is an exciting addition to our growing dental business. PDG's strong brand and robust network will help us enhance the dental experience for our clients in the regions where PDG operates."
"PDG is a natural fit with Sun Life with its understanding of dental networks, commitment to the dental business and focus on serving clients," said Pamela Hargrove, president of PDG. "Together, Sun Life and PDG will ensure that our network clients and dental providers continue to receive the same high-quality service they do today."
PDG will continue to operate under its existing brand as a stand-alone entity. Founded in 1991, PDG's primary business is operating a leading dental provider network that dental plan issuers and administrators can lease to supplement their own networks. The company is well known for its strong dental provider relationships in its focus states.
The acquisition is expected to be completed by the end of the second quarter of 2017, subject to the satisfaction of customary closing conditions. Terms of the acquisition were not disclosed.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individuals and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2016, Sun Life Financial had total assets under management of C$903 billion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
In the United States, Sun Life Financial is one of the largest group benefits providers, serving more than 60,000 employers in small, medium and large workplaces across the country. Sun Life's broad portfolio of products and services in the U.S. includes Disability and Absence Management, Life, Dental and Vision, Voluntary and Stop-Loss insurance. This includes the acquisition of the U.S. Employee Benefits business of Assurant, Inc., in Q1 2016. For more information, please visit www.sunlife.com/us.
Devon Portney Fernald
Sun Life Financial
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SOURCE Sun Life Financial