California Insurance Company Envisions Business Merger
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Mergers & Acquisitions on Tuesday, August 13, 2013.
Having a vision for the future is important for a business to grow and become more profitable. One company in California not only has a vision for the future, it actually specializes in managed vision care insurance services. Block Vision is now looking to expand its business through a business merger with Superior Vision, which is another company offering vision care insurance plans.
The newly merged company will serve over 8.5 million customers across the United States. The company will also operate over 55,000 locations to serve the public. The two collaborating companies have not released any information regarding who would head the newly merged business venture. They also have not specified where the new company would be headquartered.
The combined company is planning to offer medical eye and vision benefit programs for employer groups. It will also offer health insurance plans as well as plans directly to consumers. Additionally, the company will be offering plans via new state insurance exchanges. Block Vision currently has over 6 million members, while Superior Vision has approximately 2 million commercial insurance members across the nation.
When two companies create a business merger in California or any other state important legal documents must be filed with the correct regulating authorities and agencies. Also, legal contracts between the two merging companies must also be drafted and signed in order to specify what is expected of each party which will help to prevent future conflicts. Additionally, the business plan must ensure compliance with applicable rules and regulations in order to avoid potential lawsuits and fines from regulating agencies.
Source: capitalgazette.com, "Linthicum-based vision benefits firm in cross-country merger," July 31, 2013