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PHP Management Systems acquires Pro-Claim Plus, affiliates

PHP Management Systems Inc. has acquired 100% control of Pro-Claim Plus Inc. and its noninsurance affiliates, Lion Technology Inc. and Innovative Health Strategies Inc., through a bank financed stock acquisition.

The transaction took effect Sept. 29.

Physicians Health Plan of Northern Indiana Inc. is the sole shareholder of PHP Holdings Co., which is the sole shareholder of PHP Management Systems. The acquisition generated positive goodwill on the acquired entities financial statements but does not result in unamortized goodwill attributable to Physicians Health Plan of Northern Indiana's investment in PHP Holdings.