Piedmont Community Health Plan (Piedmont) – Central Virginia’s only regionally owned and operated health insurance provider – has acquired HealthWorks. The Lynchburg-based company provides occupational medicine and employer health services.
The two businesses said the acquisition allows them to better support the community by providing a broader suite of healthcare programs, delivered more efficiently.
HealthWorks offers a wide array of health-related services to employers. They include occupational medicine, wellness and employee assistance programs, physical therapy and industrial rehabilitation, as well as onsite clinics.
Over time, Piedmont will provide some of the same community-focused programs to its members. That will broaden the company’s health and wellness offerings, increase its competitiveness in the health insurance industry and support future growth, according to CEO Richard Tugman.
HeathWorks will gain new markets and the opportunity to expand its business. And both companies will be able to leverage each other’s products, skills and resources.
“This is a positive development for all of us,” Tugman said. “It supports the growth of both Piedmont and HealthWorks and increases our ability to deliver more value to our community, our commercial customers and other stakeholders, and our members.”
HealthWorks previously was a wholly owned subsidiary of Centra Health. With the acquisition, that ownership transfers to Piedmont. There will be no changes to programs, services, policies or staff.
Tugman said Piedmont’s Board of Directors approved the deal. Centra agreed to the transfer of ownership.
Piedmont has a workforce of close to 100 in the Lynchburg area, while HealthWorks employs about 30 people.
Piedmont provides health insurance programs to businesses and individuals in Central Virginia and beyond. It plays an important role in the region by delivering competitively priced healthcare coverage and by helping to control healthcare costs, while offering generally superior reimbursement rates to the area’s medical service providers.
About Piedmont Community Health Plan (Piedmont)
Piedmont, based in Lynchburg Virginia, provides health insurance coverage to more than 25,000 commercial and Exchange members. Piedmont is Central Virginia’s only locally owned and operated health insurance provider. It plays an important role in the community by helping to control healthcare costs through regionally based coverage that often is less expensive than competitors, and by providing a competitive advantage to the region’s medical service providers. Piedmont is wholly owned by the Centra Healthcare System