BCBS of South Carolina Buys Benefits Administration Co.

As of January 2003, Thomas H. Cooper & Co., a corporate benefits administration firm. was sold to BlueCross BlueShield of South Carolina. Thomas H. Cooper & Co. will operate out of its Charleston office as an independent subsidiary of BlueCross. Prior to the sale, Thomas Cooper had owned and operated the company for 30 years.

“We feel this was the right decision for our company,” said Cooper. “The sale allows us to invest in areas that will ultimately help us reduce our client’s healthcare costs. And it makes it possible for us to offer the BlueCross network of providers. Having this access helps the firm grow its business statewide and take advantage of BlueCross’ discounted hospital rates—savings that the firm will pass on to its clients,” Cooper said.

Cooper will continue to run the firm, along with his management team of Frank Middleton, M.D., vice president, Peggy Rock Austin, vice president for operations, and Dave Kay vice president for sales and marketing. Dr. Middleton, a Charleston physician and a founder of Healthsource South Carolina, recently joined the firm to lead its medical and case management efforts. The firm also has purchased state-of-the-art software to better manage and analyze its clients’ medical costs.

Thomas Cooper & Co. is a corporate benefits administration firm, also known as a third party administrator (TPA). It administers and pays claims for companies who self-fund their corporate healthcare plans. Clients include the Commissioner of Public Works, the Town of Mount Pleasant, the City of North Charleston and Detyens Shipyards.

Topics Mergers & Acquisitions South Carolina