The Risk Authority Stanford Acquires PHT Services, Ltd.
Palo Alto, Calif. (October 16, 2017)— Following unanimous approval by both boards of directors, The Risk Authority Stanford (TRA Stanford) and PHT Services, Ltd (PHTS) today announced the completion of TRA Stanford’s acquisition of PHTS and the official launch of The Risk Authority Stanford Global Service Center.
Based in South Carolina, TRA Stanford Global Service Center (previously PHTS) will facilitate TRA Stanford’s risk and safety management services across the U.S. and will also improve the organization’s reach and efficiency for European and other international clients. The acquisition of PHTS’s assets and operations effectively doubles the staff and client base of TRA Stanford while expanding the swiftly growing organization’s presence to the East Coast.
“We are very pleased to be able to share our expertise and help introduce TRA Stanford’s innovative technologies here in the East,” said Brian Teusink, President & CEO of PHTS. “It will be exciting to provide our clients access to the best-in-class and most forward-thinking tools available to improve loss experience and create cost-effective risk management programs.”
TRA Stanford Global Service Center will continue to offer the impeccable quality and customer service that PHTS has been known for over the last 25 years and will continue to provide risk management and workers’ compensation services to both the 30 South Carolina hospitals working with PHTS and an expanding national client base. Simultaneously, based in the innovation hub of Silicon Valley, TRA Stanford will continue to develop the industry’s leading-edge risk technology and process advancements.
“This acquisition pairs two world-class players in risk management services and sends a loud and clear message that innovation and data-driven techniques are the future of our industry,” said Jeff Driver, CEO of TRA Stanford and Chief Risk Officer of Stanford Health Care and Stanford Children’s Health. “TRA Stanford’s prowess in professional liability dovetails with PHTS’s deep experience in both liability and workers’ compensation. Together, we will continue to harness the power of innovation and advanced technological expertise of Silicon Valley to meet the challenges of data collection and risk management innovation coast to coast.”
About The Risk Authority Stanford
TRA Stanford is a healthcare risk management consulting firm dedicated to transforming its clients’ risk management practices with cutting-edge solutions, unrivaled expertise and quantifiable results. TRA Stanford’s origins are rooted within the Stanford University Medical Network, and it continues to provide all risk management services to the institution and its two captive insurance companies. TRA Stanford is an industry leader in the development and implementation of solutions across all dimensions of risk management, including clinical risk management and patient safety, enterprise risk management, risk financing, claims and litigation and workplace safety. For more information, visit www.theriskauthority.com.
About PHT Services, Ltd.
Located in Columbia, SC, PHT Services, Ltd. (PHTS) provides a variety of risk management services to South Carolina’s healthcare industry. These include group self-insurance programs for workers’ compensation, professional & general liability, and medical stop-loss. PHTS also provides solutions for other property & casualty needs, group and voluntary employee benefits, and contract security. PHTS serves its clients directly and through strategic and business alliances with best practices companies.
PHTS was founded in 1993 by healthcare executives in South Carolina and its services reflect its commitment to complete client satisfaction. PHTS’s networks of strategic and business alliances include best practice companies serving the needs of its South Carolina healthcare clients. Learn more about PHTS at www.phts.com.
Contact: Tami Kelly
Brazer Communications for TRA Stanford